co insurance

coinsurance

[koh-in-shoor-uhns, -shur-]
noun
1.
insurance underwritten jointly with another or others.
2.
a form of property insurance in which an insurer assumes liability only for that proportion of a loss which the amount of insurance bears to a specified percentage of the value of the property.

Origin:
1885–90; co- + insurance

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
coinsurance (ˌkəʊɪnˈʃʊərəns, -ˈʃɔː-)
 
n
1.  a method of insurance by which property is insured for a certain percentage of its value by a commercial insurance policy while the owner assumes liability for the remainder
2.  joint insurance held by two or more persons

Collins English Dictionary - Complete & Unabridged 10th Edition
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