What does Reinsured mean? Read on to discover the definition & meaning of the term Reinsured - to help you better understand the language used in insurance policies.
An insurance company is reinsured when it has purchased a reinsurance policy from a reinsurance company. Insurance companies buy this kind of insurance as a precautionary measure to make sure that all of their risks, not just those of their policyholders, are adequately covered.
We hope the you have a better understanding of the meaning of Reinsured.