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coinsurance

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coinsurance


  2  definitions  found 
 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
 
  Coinsurance  \Co`in*sur"ance\,  n.  [Co-  +  insurance.] 
  Insurance  jointly  with  another  or  others  specif.,  that 
  system  of  fire  insurance  in  which  the  insurer  is  treated  as 
  insuring  himself  to  the  extent  of  that  part  of  the  risk  not 
  covered  by  his  policy,  so  that  any  loss  is  apportioned 
  between  him  and  the  insurance  company  on  the  principle  of 
  average,  as  in  marine  insurance  or  between  other  insurers. 
 
  From  WordNet  r  1.6  [wn]: 
 
  coinsurance 
  n  :  insurance  issued  jointly  by  two  or  more  underwriters 




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