Reinsurance is the transfer of liability from the insurance company, which issued the insurance contract, to the reinsurance company. The reinsurance company assumes some of an insurance company's liability in exchange for a payment or a portion of the insurance contract costs.
Reinsurance is the transfer of liability from the insurance company, which issued the insurance contract, to the reinsurance company. The reinsurance company assumes some of an insurance company's liability in exchange for a payment or a portion of the insurance contract costs.
Source: Wikipedia "Reinsurance" · CC BY-SA 4.0
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