reinsurance

English - Turkish

Definition of reinsurance in English Turkish dictionary

reasürans

mükerrer sigorta

tekrar sigortalama

{i} sigortanın yinelenmesi

Related Terms

excess of loss reinsurance

(Sigorta,Ticaret) hasar fazlası reasüransı

specific reinsurance

(Sigorta) ihtiyari reasürans

obligatory reinsurance

(Sigorta) mecburi reasürans

obligatory reinsurance treaty

(Sigorta) mecburi reasürans tretesi

original reinsurance treaty

(Sigorta) asli reasürans tretesi

quota surplus reinsurance

(Sigorta) kotpar reasüransı

English - English

Definition of reinsurance in English English dictionary

Insurance purchased by insurance companies that spreads the risk associated with selling insurance around so the danger of one large monetary loss is minimized

An agreement between insurance companies under which one accepts all or part of the risk or loss of the other Most primary companies insure only part of the risk on any given policy The amount varies among carriers The remainder of the policy limits are covered by reinsurance entities The less primary risk that the company insures, the more premium it has to pay to the reinsurer to cover the remaining policy limits In general, smaller companies are able to cover only a relatively small proportion of the liability limit This results in large premium payments to reinsurers Larger companies can cover a large proportion safely, thus reducing the payments they must cede to reinsurers, which indirectly reduces the cost of insurance to their policyholders

Insurance purchased by an HMO, insurance company, or self-funded employer from another insurance company to protect itself against all or part of the losses that my be incurred in the process of honoring the claims of its participating providers, policy holders, or employees and covered dependents Also call risk control insurance or stop-loss insurance

The practice whereby one party called the Reinsurer in consideration of a premium paid to him agrees to indemnify another party, called the Reinsured, for part or all of the liability assumed by the latter party under a policy or policies of insurance which it has issued The reinsured may be referred to as the Original or Primary Insurer, or Direct Writing Company, or the Ceding Company

The business of insuring insurance companies By "ceding" a portion of its business to a reinsurance company, an insurer spreads the risk of exposure to catastrophic loss

sharing the risk by insurance companies; part or all of the insurer's risk is assumed by other companies in return for part of the premium paid by the insured; "reinsurance enables a client to get coverage that would be too great for any one company to assume"

A form of insurance that insurance companies purchase from other insurance companies This is done to reduce the possible maximum loss on either an individual risk or a group of risks There are several forms of reinsurance, including: Coinsurance, Modified Coinsurance, and Yearly Renewable Term

(1) A contract of indemnity against liability by which the insurance company procures another insurance to insure against loss or liability by reason of the original insurance; (2) Insurance by one insurance company of all or part of a risk accepted by it with another insurance company which agrees to reimburse the insurance company for the portion of the claim insured

When insurance companies are unable to take on all of the financial risk associated with large insurance contracts, they can share the risk with other insurers They do this through reinsurance

{i} secondary insurance; renewed insurance

A transaction between two insurance companies in which one company purchases insurance from the other to cover part or all of the risks that the first company does not wish to retain in full See also ceding company and reinsurer

- A contractual relationship between two insurance companies under which one insurer assumes a portion of the risk of the insurance policy written by the other

The acceptance by one insurance company of a portion of a risk underwritten by another company In a type of reinsurance called facultative, the reinsurer retains the right to reject any specific risk presented by the reinsured

The spreading of risk and division of client premiums among insurance companies allowing the sharing of the burden of a large risk

Insurance a second time or again; renewed insurance

A contract by which an insurer is insured wholly or in part against the risk he has incurred in insuring somebody else

An agreement whereby the original insurer arranges to pass on all or part of the risk to another insurer known as the reinsurer, in consideration of the premium paid to the reinsurer The original insurer may be referred to as the primary insurer, the reinsured, or the ceding company The amount of liability retained by the original insurer is commonly called the retention of net line

*: 1) The acceptance by one or more insurers, called reinsurers, of a portion of the risk underwritten by another insurer who has contracted for the entire coverage; 2) The purchase of insurance by an insurance company from another insurance company (reinsurer) to provide it protection against large losses on cases it has already insured

A contractual relationship between two insurance companies under which one insurer assumes a portion of the risk of the insurance policy written by the other

– The practice of an HMO or insurance company of purchasing insurance from another company for protection against part or all the losses incurred in the process of honoring the claims of policyholders Also referred to as "stop loss" or "risk control insurance"

A contract which one insurer makes with another to protect the first insurer, wholly or partially, against loss or liability by reason of a risk under a separate and distinct contract as insurer of a third party Reinsurance differs from coinsurance in that, in the case of reinsurance, only one insurer has a direct contractual relationship with the insured, and that insurer (commonly referred to as the "lead insurer") purchases reinsurance in order to lessen or spread the risk The "lead insurer" will assume a risk up to a limit (the amount of which is referred to as the "retention") and any loss which exceeds this limit would be borne by the reinsurers In the case of coinsurance, each coinsurer has a direct contractual relationship with the insured, and the risk is shared in agreed-upon proportions from the first dollar of loss

A mechanism to protect against part or all of the financial losses that may be incurred through insuring for risk Reinsurance may be used for property and casualty losses as well as for life and health claims It is a common "stop-loss" mechanism used by self-insured and insured entities throughout the economy, including business and industry, labor organizations, hospitals, HMOs, individual professionals, and even insurance companies It is commercially available from insurance underwriters It is also referred to as "risk control insurance " The coverage may be uniquely written for an individual claimant or groups of claimants

Contractual assumption of a portion of one insurer's risk by one or more insurers Stop-loss insurance is a form of reinsurance, in that an insurance carrier assumes coverage when claims exceed a specified dollar amount over a set period of time There are 2 types of stop-loss insurance: (a) Aggregate, where insurance payments commence when aggregate or total claims exceed a set figure within a specified period of time, and (b) Specific, where insurance payments commence when a single large claim exceeds a set figure within a specified period of time

Placing of a part of the insurance (i e a portion of the risk) with another insurance company (the reinsurer), which assumes the responsibility in return for a percentage of the premium paid by the insured

A form of insurance that insurance companies buy for their own protection

Coverage that insurance companies buy for their own protection, corresponding to a sharing of insurance between insurers and reinsurers

- (1) A contract of indemnity against liability by which the insurance company procures another insurance to insure it against loss or liability by reason of the original insurance (2) Insurance by one insurance company of all or part of a risk accepted by it with another insurance company which agrees to reimburse the insurance company for the portion of the claim reinsured The insurance company obtaining the reinsurance is called the "ceding insurance company;" the insurance company issuing the reinsurance is called the "reinsurer " A reinsurer may, in turn, seek reinsurance on some portion of the risk it has reinsured, a process known as "retrocession "

Insurance protection bought by an insurer to limit its own exposure The availability of reinsurance protection allows an insurer to expand its own capacity to take on risk Without a reinsurance facility, each insurer would be able to accept less business

Related Terms

Reinsurance Treaty

(June 18, 1887) Secret agreement between Germany and Russia. Arranged by Otto von Bismarck after the collapse of the Three Emperors' League, it provided that each party would remain neutral if either became involved in a war with a third nation, and that this would not apply if Germany attacked France or if Russia attacked Austria. Germany acknowledged the Russian sphere of influence in Bulgaria. After the treaty was not renewed in 1890, a Franco-Russian alliance began to take shape

Reinsurance.

re

reinsurances

plural of reinsurance

Hyphenation

re·in·sur·ance

Turkish pronunciation

riînşûrıns

Pronunciation

/ˌrēənˈsʜo͝orəns/ /ˌriːɪnˈʃʊrəns/

Etymology

() re- +‎ insurance