Definify.com
Webster 1913 Edition
Reinsurance
Reˊin-sur′ance
(-sh?r′ans)
, Noun.
1.
Insurance a second time or again; renewed insurance.
2.
A contract by which an insurer is insured wholly or in part against the risk he has incurred in insuring somebody else. See
Reassurance
. Webster 1828 Edition
Reinsurance
REINSU'RANCE
,Noun.
An insurance of property already insured; a second insurance of the same property. Such reinsurance is permitted by the French commercial code; but in England is prohibited by statute, except when the first underwriter is insolvent.