{ "@context": "https://schema.org", "@type": "DefinedTerm", "name": "Reinsurance", "description": "Reinsurance is insurance that insurance companies buy to spread their own risk across the broader market. Rising reinsurance costs are a primary driver of consumer premium increases after major catastrophe years.", "inDefinedTermSet": { "@type": "DefinedTermSet", "name": "Insurance Terms Glossary", "url": "https://olivecover.com/insurance-terms" } }
Olive Cover
AboutFree Coverage Review
General

Reinsurance

Reinsurance is insurance that insurance companies buy to spread their own risk across the broader market. Rising reinsurance costs are a primary driver of consumer premium increases after major catastrophe years.

Insurance that insurance companies buy to spread their own risk. Example: after major catastrophe years, global reinsurance prices rise sharply. Homeowners across many states then see 10 to 25 percent premium increases driven by the reinsurance market, even if their own area had no claims.