Reinsurance vs. Reassurance — What's the Difference?

Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself (at least in part) from the risk of a major claims event. With reinsurance, the company passes on ("cedes") some part of its own insurance liabilities to the other insurance company.

To restore confidence to

To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company.

To assure again

Insurance purchased by insurance companies that spreads the risk associated with selling insurance around so the danger of one large monetary loss is minimized.

To reinsure.

Insurance a second time or again; renewed insurance.

The feeling of being reassured, of having confidence restored, of having apprehensions dispelled.

A contract by which an insurer is insured wholly or in part against the risk he has incurred in insuring somebody else. See Reassurance.

The act of confirming someone's opinion or impression.

Sharing the risk by insurance companies; part or all of the insurer's risk is assumed by other companies in return for part of the premium paid by the insured;

Reinsurance.

Assurance or confirmation renewed or repeated.

Same as Reinsurance.

The act of reassuring; restoring someone's confidence