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Meaning of Coinsurace


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  • Insurance issued jointly by two or more underwriters.
  • (very rare): Insurance shared jointly between an insurance company and the insured.
- The Nuttall Encyclopedia



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.

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.

- Webster's Unabridged Dictionary (1913)



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The correct spelling of this word ought to be: Coinsurance

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