What's the difference between assurance and reinsurance?

Assurance


Definition:

  • (n.) The act of assuring; a declaration tending to inspire full confidence; that which is designed to give confidence.
  • (n.) The state of being assured; firm persuasion; full confidence or trust; freedom from doubt; certainty.
  • (n.) Firmness of mind; undoubting, steadiness; intrepidity; courage; confidence; self-reliance.
  • (n.) Excess of boldness; impudence; audacity; as, his assurance is intolerable.
  • (n.) Betrothal; affiance.
  • (n.) Insurance; a contract for the payment of a sum on occasion of a certain event, as loss or death.
  • (n.) Any written or other legal evidence of the conveyance of property; a conveyance; a deed.

Example Sentences:

  • (1) Mike Ashley told Lee Charnley that maybe he could talk with me last week but I said: ‘Listen, we cannot say too much so I think it’s better if we wait.’ The message Mike Ashley is sending is quite positive, but it was better to talk after we play Tottenham.” Benítez will ask Ashley for written assurances over his transfer budget, control of transfers and other spheres of club autonomy, but can also reassure the owner that the prospect of managing in the second tier holds few fears for him.
  • (2) To a supporter at the last election like me – someone who spoke alongside Nick Clegg at the curtain-raiser event for the party conference during the height of Labour's onslaught on civil liberties, and was assured privately by two leaders that the party was onside about civil liberties – this breach of trust and denial of principle is astonishing.
  • (3) But we sent out reconnoitres in the morning; we send out a team in advance and they get halfway down the road, maybe a quarter of the way down the road, sometimes three-quarters of the way down the road – we tried this three days in a row – and then the shelling starts and while I can’t point the finger at who starts the shelling, we get the absolute assurances from the Ukraine government that it’s not them.” Flags on all Australian government buildings will be flown at half-mast on Thursday, and an interdenominational memorial service will be held at St Patrick’s cathedral in Melbourne from 10.30am.
  • (4) The absence of uniform definitions prevents meaningful intersystem comparisons, prohibits explorations of hypotheses about effective interventions, and interferes with the efforts of quality assurance.
  • (5) At a private meeting last Tuesday, Hunt assured Cameron and the cabinet secretary, Sir Jeremy Heywood, that he had not been aware that his special adviser, Adam Smith, was systematically leaking information and advice to News Corp about its bid for BSkyB.
  • (6) Belmar and his fellow commanders spent the week before the grand jury decision assuring residents that 1,000 officers had been training for months to prepare for that day.
  • (7) Last month following a visit to Islamabad Ben Emmerson QC, the UN's special rapporteur on counter-terrorism and human rights, said he had been given assurances that there was no "tacit consent by Pakistan to the use of drones on its territory".
  • (8) "Recent developments have once again brought into question the validity of assurances by the US about its use of Diego Garcia," say the MPs.
  • (9) Portugal's slide towards a Greek-style second bailout accelerated after its principal private lenders indicated that they were growing weary of assurances from Lisbon that it could get on top of the country's debts.
  • (10) The scheme has an important role in histopathology quality assurance.
  • (11) At the very least, Arsenal have assured themselves of a place in the Europa League.
  • (12) The proposition put forward in this paper is that standards of nursing practice can only be assured if the profession is able to find ways of responding to the intuitions and gut reactions of its practitioners.
  • (13) When accreditation is viewed and administered appropriately, it is an opportunity for self-improvement and a tool for quality assurance.
  • (14) The Pentagon leadership suggested to a Senate panel on Tuesday that US ground troops may directly join Iraqi forces in combat against the Islamic State (Isis), despite US president Barack Obama’s repeated public assurances against US ground combat in the latest Middle Eastern war.
  • (15) Current residency training does not assure competency in all of the procedures the general internist does in practice.
  • (16) Ten patients (16.67 per cent) of the mortality group were in the ninety-ninth percentile of risk, whereas these factors or variables of similar weight produced an equivalent risk of only 0.34 per cent of the survivors; thus, operative death in these circumstances could be predicted with an estimated 98.0 per cent assurance.
  • (17) This is a correlative study of normal anatomy of the lumbosacral spine and pelvis demonstrated by SPECT and radiography in order to assure that morphologic detail resulting from SPECT is recognized and matched with radiographic landmarks in the same area.
  • (18) Until the dental profession defines quality to include psychological, sociologic, and economic factors and establishes measurable standards of performance, dental quality assurance cannot exist in any meaningful way.
  • (19) A comprehensive quality assurance (QA) program should be implemented for all teleradiology and picture archival and communications (PACS) systems.
  • (20) Until that point, Bravo had looked assured, often straying 30 yards off his goal-line and confident enough to try a couple of passes that many goalkeepers would consider too risky.

Reinsurance


Definition:

  • (n.) Insurance a second time or again; renewed insurance.
  • (n.) A contract by which an insurer is insured wholly or in part against the risk he has incurred in insuring somebody else. See Reassurance.

Example Sentences:

  • (1) The global fund's reinsurance arm – put at about $3bn (using a high insurance rate) – would facilitate reinsurance coverage for social protection schemes in countries where risks (and the fear of excess demand for support) make it difficult for states to obtain affordable and extensive reinsurance.
  • (2) The second provision was a sop to unions, and as such was seen as a Democratic ask: a tax on group health care plans – which would fund a reinsurance program to protect against early strain on the system from potentially lots of sick people and no healthy people signing up – was to be delayed.
  • (3) But reinsurance alone does not reduce the underlying high cost of providing such primary coverage.
  • (4) It is argued that the rise in malpractice insurance premiums and associated restrictions in availability should be seen against the background of underwriting problems specific to medical liability in conjunction with a general decline in reinsurance cover.
  • (5) That is why the governments concerned must take over the reinsurance function and use their agencies only to administer the insurance policies.
  • (6) Taking as an example the life insurance application of a man with conservatively treated ulcerative colitis, risk assessment procedure from the viewpoint of life insurance is analyzed on the basis of the Swiss Reinsurance Company rating guidelines.
  • (7) Only simple insurance products will be affected, but not big reinsurance contracts and specialist insurance such as marine and aviation, Beale said.
  • (8) There, reinsurance serves as part of a strategy for requiring that primary insurance be made available to all applicants, regardless of risk.
  • (9) Private insurers and reinsurers like Germany's Euler Hermes have offered it for years.
  • (10) Some financial firms, though, were hit – particularly the reinsurance firms that take on risk from individual insurers.
  • (11) Guarantees of this kind have a peculiar feature: the more convincing they are, the less likely they are to be invoked; the reinsurance is likely to turn out to be largely costless.
  • (12) The fund would have two functions: to help the 48 least developed countries (LDCs) put in place a "social protection floor"; and to serve as a reinsurance provider to step in if a state's social protection system was overwhelmed by an unexpected event such as extreme drought or flooding.
  • (13) Like other reinsurers, Munich Re has said it is expecting to face mounting claims in the coming years for damage caused by climate change.
  • (14) Hodge said: "As individual events, the Australian floods, Cyclone Yasi [in Australia], the Christchurch earthquake and today's Honshu earthquake are unlikely to significantly affect global reinsurance prices.
  • (15) It was found that admissions can be unreported when another insurer or institution pays (e.g., Medicare, No Fault, Workmen's Compensation, duplicate coverage, school health and liability insurance or VA, military, municipal, and state hospitals); when the HMO does not cover benefits (e.g., cosmetic and oral surgery, experimental procedures, long-term psychiatric, chronic, or rehabilitation stays); and when HMO coverage is denied for procedural reasons (e.g., catastrophic stays covered by reinsurance, newborns, voluntary "leakage," or improper following of HMO procedures).
  • (16) To do so, they must ensure their financial stability through the support of the insured and through adequate reinsurance, compete effectively with commercial insurance companies, comply with federal regulations regarding reimbursement to hospitals for premiums, and develop effective internal management.
  • (17) They had bought it for £600m in 2007 from reinsurer Swiss Re, which commissioned it in 2004.
  • (18) Because the primary carrier mainly wants to protect its solvency against unpredictable variation in claims experience, it normally reinsures only the "high end" of claims risk.
  • (19) Under conventional private practice, primary health insurers, including self-insured groups and HMOs, voluntarily contract with reinsurers to share some risk and some premiums.
  • (20) The £4bn loans, some of which appear to be still outstanding, were made to the Swiss banking giant, Credit Suisse; a British reinsurer, Swiss Re plc; and an unidentified US insurer.

Words possibly related to "reinsurance"