reinsure
- The process of taking on an existing insurance policy from another insurer, thereby assuming the responsibility for the policy
- The company decided to reinsure the liability policy to mitigate potential financial risk.
- Upon consideration, the firm chose to reinsure their high risk clients' policies to share the burden with another entity.
- After a series of large-scale disasters, the insurance firm sought to reinsure some of its policies to spread out the financial impact.
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