reinsure

[ree-in-shoor, -shur]
verb (used with object), reinsured, reinsuring.
1.
to insure again.
2.
Insurance. to insure under a contract by which a first insurer is relieved of part or all of the risk, which devolves upon another insurer.

Origin:
1745–55; re- + insure

reinsurer, noun
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
reinsure (ˌriːɪnˈʃʊə, -ʃɔː)
 
vb
1.  to insure again
2.  (of an insurer) to obtain partial or complete insurance coverage from another insurer for (a risk on which a policy has already been issued)
 
rein'surance
 
n
 
rein'surer
 
n

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
Alternatively, the government might reinsure people.
Where private credit insurance is available, the government would reinsure its
  risk.
Captives are created when a business or groups of businesses join to insure or
  reinsure their own risk.
It chose not to reinsure the aggregate basis policy.
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