Coinsurer


Coinsurer
One of the parties that provides additional insurance to the same person or policy. A Coinsurer provides partial coverage along with other coinsurers. Coinsurers are generally used when the amount being covered is too large for a single insurer to cover by itself. For example, after a fire, the primary insurance company will cover the majority of the schedule, while the coinsurer will be responsible for the rest.

In some instances, state or federal law may dictate that some risks must be jointly insured by several coinsurers in order to adequately diversify the risk of a possible large claim. Coinsurers will share in any claim or loss for the proportionate amount of risk that they take on.


Investment dictionary. . 2012.

Look at other dictionaries:

  • coinsurer — noun see coinsure …   New Collegiate Dictionary

  • coinsurer — /koh in shoor euhr, sherr /, n. 1. a person or firm that contracts as an insurer jointly with another or others. 2. an insured who is liable to bear part of the loss under a coinsurance provision. [CO + INSURER] * * * …   Universalium

  • coinsurer — n. one who jointly provides insurance with others; one who is jointly responsible for insurance …   English contemporary dictionary

  • coinsurer — co·insurer …   English syllables

  • coinsurer — Insurer who shares losses sustained under policy …   Black's law dictionary

  • coinsurer — Insurer who shares losses sustained under policy …   Black's law dictionary

  • coinsurer — One of two or more insurers who have issued policies covering the same risk, and who contribute ratably in case of loss. Chesbrough v Home Ins. Co. 61 Mich 333, 335; the position or status of the insured under a coinsurance clause. See… …   Ballentine's law dictionary

  • coinsurer — |kō+ noun Etymology: co + insurer : one that assumes liability as an insurer jointly with another : one subject to penalty under a coinsurance clause * * * /koh in shoor euhr, sherr /, n. 1. a person or firm that contracts as an insurer jointly… …   Useful english dictionary

  • coinsure — transitive verb Date: 1886 to insure jointly • coinsurer noun …   New Collegiate Dictionary

  • coinsure — verb a) To insure (or be insured) jointly with another b) To take out coinsurance See Also: coinsurance, coinsurer …   Wiktionary


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