RE-INSURANCE means when an insurance company gets its risk insured from another insurance company. In Re-insurance contract both insured as well as insurer are insurance companies . When an insurance company finds that its risk has exceeded a certain limit, it transfers a part of the risk to some other insurance company by taking re-insurance of certain items. Re-insurance contract does not affect the contract between main insured and the insurer.RE-INSURANCE
RE-INSURANCE means when an insurance company gets its risk insured from another insurance company. In Re-insurance contract both insured as well as insurer are insurance companies . When an insurance company finds that its risk has exceeded a certain limit, it transfers a part of the risk to some other insurance company by taking re-insurance of certain items. Re-insurance contract does not affect the contract between main insured and the insurer.
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