Coinsure - Law Dictionary Search Results
Home Dictionary Name: coinsurecoinsurance
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 ...
coinsure
coinsure : to insure jointly co·in·sur·er n ...
Coinsurance
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...
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