Coinsurance
Legal definition for Indian law research
Definition
coinsurance
1 : joint assumption of risk (as by two underwriters) with another
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 to suffer a penalty in proportion to the deficiency
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.