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coinsurance Definition
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coinsurance
noun(co-in-sur-ance)joint assumption of risk (as by two underwriters) with another
coinsurance
noun(co-in-sur-ance)insurance (such 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
coinsurance
noun(co-in-sur-ance)health insurance in which the insured is required to pay a fixed percentage of the cost of medical expenses after the deductible has been paid and the insurer pays the remaining expenses