What is the difference between insurance and reinsurance?
insurance | reinsurance | Related terms |
A means of indemnity against a future occurrence of an uncertain event.
*{{quote-magazine, date=2012-01
, author=Philip E. Mirowski
, title=Harms to Health from the Pursuit of Profits
, volume=100, issue=1, page=87
, magazine=
The business of providing insurance.
Metaphoric: Any attempt to anticipate an unfavorable event.
Blackjack: A bet made after the deal, which pays off if the dealer has blackjack.
(countable) An insurance policy
* {{quote-news, year=2009, date=February 18, author=Cheryl Critchley, title=Free child care for Victorian bushfire victims, work=Herald Sun
, passage="The children need to get back to some level of normalcy and their families can certainly use some respite to deal with things such as insurances , licences and other things they have lost," he said. }}
(business, finance) Insurance]] purchased by [[insurance company, insurance companies that spreads the risk associated with selling insurance around so the danger of one large monetary loss is minimized.
Reinsurance is a derived term of insurance.
As nouns the difference between insurance and reinsurance
is that insurance is a means of indemnity against a future occurrence of an uncertain event while reinsurance is insurance purchased by insurance companies that spreads the risk associated with selling insurance around so the danger of one large monetary loss is minimized.insurance
English
Noun
(wikipedia insurance) (en-noun)citation, passage=In an era when political leaders promise deliverance from decline through America’s purported preeminence in scientific research, the news that science is in deep trouble in the United States has been as unwelcome as a diagnosis of leukemia following the loss of health insurance .}}
- The car was totalled, but fortunately I had insurance .
- After five years in banking, I switched to insurance .
- The sky was clear, but I took my umbrella for insurance .
- I only take insurance if the count is right.
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