What is REINSURANCE?

A contract of reinsurance is one by which an insurer procures a third person to insure him against loss or liability by reason of such original insurance. Civ. Code Cal.

More On This Topic



Link to This Definition
Did you find this definition of REINSURANCE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary