coinsurance
1
8.5
An insurance arrangement where two or more companies share the same risk
- noun
- /ˌkɔɪnˈʃʊərəns/
- Specialized
:
coaseguro
- After reviewing the policy details, she learned that her medical expenses would be subject to coinsurance, meaning she would pay a percentage of the costs.
Examples
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In some instances, the banks' insurance may include a substantial coinsurance percentage or a massive self-insured retention.
Blog text (24) -
In a coinsurance agreement, both insurance companies share the responsibility for any claims that arise.
-
The business owner opted for a coinsurance arrangement to ensure that multiple insurers covered potential risks.
Surface Forms
coinsurance singular
coinsurances plural
Morphology
Etymology
The word coinsurance comes from the prefix co- meaning 'together' and insurance meaning protection, so it originally meant protection given 'together' by more than one company.