REINSURE

reinsure

(verb) insure again by assuming all or a part of the liability of an insurance company already covering a risk

reinsure

(verb) insure again by transferring to another insurance company all or a part of a liability assumed

reinsure

(verb) provide additional insurance for

Source: WordNet® 3.1

Etymology

Verb

reinsure (third-person singular simple present reinsures, present participle reinsuring, simple past and past participle reinsured)

(transitive) To insure again (extending or replacing prior insurance).

(transitive) To place insurance on the contract that insures something (allowing the insurer to offset risk in the same way the insuree did).

Source: Wiktionary

Re`in*sure" (-shr"), v. t.

1. To insure again after a former insuranse has ceased; to renew insurance on.

2. To insure, as life or property, in favor of one who has taken an inssurance risk upon it. The innsurer may cause the property insured to be reinsured by other persons. Walsh.

Source: Webster’s Unabridged Dictionary 1913 Edition