Dictionary
coinsurance
noun co·in·sur·ance \ˌkō-ən-ˈshu̇r-ən(t)s also -ˈin-ˌ\
Definition of 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 suffer a penalty in proportion to the deficiency
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First Known Use of COINSURANCE
circa 1889
Rhymes with COINSURANCE
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