reinsure

verb (used with object), re·in·sured, re·in·sur·ing.

1. to insure again.
2. Insurance. to insure under a contract by which a first insurer is relieved of part or all of the risk, which devolves upon another insurer.

verb (tr)

1. to insure again
2. (of an insurer) to obtain partial or complete insurance coverage from another insurer for (a risk on which a policy has already been issued)