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coinsurance

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noun co·in·sur·ance \ˌkō-ən-ˈshu̇r-ən(t)s also -ˈin-ˌ\

Definition of coinsurance

  1. 1 :  joint assumption of risk (as by two underwriters) with another

  2. 2 :  insurance (as fire insurance) in which the insured is obligated to maintain coverage on a risk at a stipulated percentage of its total value or in the event of loss suffer a penalty in proportion to the deficiency



Circa 1889

First Known Use of coinsurance

circa 1889

Rhymes with coinsurance


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