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coinsurance

[koh-in-shoo r-uh ns, -shur-] /ˌkoʊ ɪnˈʃʊər əns, -ˈʃɜr-/
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
1885-1890
1885-90; co- + insurance
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for co insurance

coinsurance

/ˌkəʊɪnˈʃʊərəns; -ˈʃɔː-/
noun
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 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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