reinsurance, indemnity

  • Reinsurance is an insurance agreement or contract under which one insurer, called the ceding company, is indemnified against loss by another insurer, called the reinsurer, arising out of an insurance policy written by the original insurer.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).