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The Collaborative International Dictionary
Reinsure

Reinsure \Re`in*sure"\ (-sh?r"), v. t.

  1. To insure again after a former insuranse has ceased; to renew insurance on.

  2. To insure, as life or property, in favor of one who has taken an insurance risk upon it.

    The innsurer may cause the property insured to be reinsured by other persons.
    --Walsh.

Wiktionary
reinsure

vb. 1 To insure again (extending or replacing prior insurance.) 2 To place insurance on the contract that insures something (allowing the insurer to offset risk in the same way the insuree did).

WordNet
reinsure
  1. v. provide additional insurance for

  2. insure again by transferring to another insurance company all or a part of a liability assumed

  3. insure again by assuming all or a part of the liability of an insurance company already covering a risk

Usage examples of "reinsure".

California to a privilege tax measured by gross premiums derived from such contracts, notwithstanding that the contracts reinsured other insurers authorized to do business in California and protected policies effected in California on the lives of residents therein.

My paper also believes that you confessed yourself to Tessa and Arnold on the matter of Dypraxa and--this is only supposition, of course--as soon as they had gone, betrayed them to your former employers in order to reinsure yourself.

You made a few honest trade runs under a new registry before you then reinsured it, and then you sunk it on the summit of the seamount so you could always get at the remains for spare parts needed to make phony modifications on future acquisitions to your ill-gotten fleet God, how all the buccaneers of the Spanish Main would have envied your organization, Delphi.

All the time, in the back of his mind, he knew that you were secretly reinsuring against the Brussels failure.