reinstatement

The restoration of an insurance policy after it has lapsed for nonpayment of premiums. Bloomberg Financial Dictionary

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reinstate re‧in‧state [ˌriːɪnˈsteɪt] verb [transitive]

1. to put someone back into a job or position of authority from which they had previously been removed:

• His claim of unfair dismissal was upheld and he was later reinstated.

reinstate somebody as something

• She was cleared by the investigation and immediately reinstated as Finance Director.

— reinstatement noun [countable, uncountable] :

• The sacked workers are fighting for reinstatement.

2. to put back into a document, agreement etc something that had previously been taken out:

• We agreed to reinstate this clause in the contract.

3. INSURANCE to bring back into effect an insurance policy that has not been in effect for some time, for example because the regular payments for it have not been made

— reinstatement noun [uncountable]

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reinstatement UK US /ˌriːɪnˈsteɪtmənt/ noun [U]

► HR the act of giving back a job or position to someone: sb's reinstatement as sth »

Her reinstatement as Finance Director was welcomed by all.

► the act of bringing back something that was previously removed or stopped: »

The reinstatement of trading restrictions was condemned in the financial press.