Legal Definition and Related Resources of Reinsurance

A contract of indemnity to the person or corporation who is in the position of an original insurer, binding the reinsurer to pay to the reinsured the whole loss sustained in respect to the subject of the insurance to extent to which he is reinsured. See Allemannia F. Ins. Co. v Firemans Ins. Co., 209 U.S. 326, 28 S.Ct. 544, 52 L.Ed. 815. An original insurer is entitled to protect himself by such reinsurance to the whole extent of his liability , in the absence of any usage to the contrary or any specific stipulation in the policy. See Insurance Co. of N.A. v Hibernia Ins. Co., 140 U.S. 565, 11 S.Ct. 909,35 L.Ed. 517. Reinsurance involves no transaction or privity between the reinsurer and those originally insured. See Morris and Co. v SkandinaviaIns. Co., 279 U.S. 405,49S.Ct. 360, 73 L.Ed. 762.

Insurance effected by an underwriter upon a subject against certain risks with another underwriter, on the same subject, against all or a part of the same risks, not exceeding the same amount. In the original insurance, he is the insurer ; in the second, the assured.

Browse or run a search for Reinsurance in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Reinsurance in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Reinsurance in Historical Law in the Encyclopedia of Law.

Search for legal acronyms and/or abbreviations containing Reinsurance in the Legal Abbreviations and Acronyms Dictionary.

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Facultative Reinsurance.

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This definition of Reinsurance is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.

Vocabularies (Semantic Web Information)

Concept of Reinsurance in the context of Real Property

A short definition of Reinsurance: The transferring of a portion of the liability to other insurers. Example: Insurer A insures for $200,000. A insures for $100,000 and reinsures the “second” $100,000 through B insurer. The “first” $100,000 is called “primary liability”.

Concept of Reinsurance in the context of Real Property

A short definition of Reinsurance: The transferring of a portion of the liability to other insurers. Example: Insurer A insures for $200,000. A insures for $100,000 and reinsures the “second” $100,000 through B insurer. The “first” $100,000 is called “primary liability”.

Reinsurance in Maritime Law

Note: There is more information on maritime/admiralty law here.

See marine reinsurance (see this legal maritime term in this international legal dictionary).

Hierarchical Display of Reinsurance

Finance > Insurance > Insurance

Meaning of Reinsurance

Overview and more information about Reinsurance

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Resources

Translation of Reinsurance

• Spanish: Reaseguro
• French: Réassurance
• German: Rückversicherung
• Italian: Riassicurazione
• Portuguese: Resseguro
• Polish: Reasekuracja

Thesaurus of Reinsurance

Finance > Insurance > Insurance > Reinsurance

See also

• Resignation of the government
• Ministerial responsibility