reinsure

/'ri:in'ʃuə/

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Explanation of "Reinsure"

Definition:
The verb "reinsure" means to provide insurance again, usually to another insurance company. When one insurance company takes on some of the risks or responsibilities of another insurance company, it is called "reinsuring." This can help spread the risk of large claims and protect the original insurer from losing too much money.

Usage Instructions:

• Context: "Reinsure" is used mainly in the insurance industry. You might encounter it in discussions about financial safety, risk management, or insurance policies.
• Form: It is a verb, so you can change it to different tenses. For example:
  • Present: reinsure
  • Past: reinsured
  • Present participle: reinsuring

Example Sentences:

1. "After the storm, the insurance company decided to reinsure part of its liability to reduce its risk."
2. "Many insurers choose to reinsure to protect themselves against large losses."

Advanced Usage:

• "Reinsurer" is a noun that refers to the company that provides reinsurance.
• "Reinsurance" is a noun that refers to the process or act of reinsuring.

Different Meanings:

• In general terms, "reinsure" primarily refers to the insurance context. There are no widely recognized alternative meanings outside this industry.

Synonyms:

• Cede (to transfer risk to another insurer)
• Transfer (in the context of transferring insurance risk)
• Reassure (though this is different; it means to make someone feel less worried)

Idioms and Phrasal Verbs:

• There are no specific idioms or phrasal verbs using "reinsure." However, you might hear phrases like "spread the risk," which relates to the concept of reinsuring.

Summary:

To "reinsure" means to insure again or transfer part of the insurance liability to another company. It's a common practice in the insurance industry to manage risk effectively.

Academic

Verb

1. insure again by assuming all or a part of the liability of an insurance company already covering a risk
2. insure again by transferring to another insurance company all or a part of a liability assumed
3. provide additional insurance for