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coinsurance
coinsurance definition
co·insur·ance (kō′in s̸ho̵or′əns)
noun
- a form of property insurance in which the insured shares in losses proportionately to the extent that the amount of insurance falls short of a specified percentage of the value of the insured property
- joint insurance by two or more insurers
Webster's New World College Dictionary Copyright © 2005 by Wiley Publishing, Inc., Cleveland, Ohio.
Used by arrangement with John Wiley & Sons, Inc.
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