COINSURANCE

coinsurance

(noun) insurance issued jointly by two or more underwriters

Source: WordNet® 3.1


Etymology

Noun

coinsurance (countable and uncountable, plural coinsurances)

(US) The joint assumption of risk between the insurer and the insured party.

(international) The joint assumption of risk between multiple insurers.

Source: Wiktionary


Co`in*sur"ance, n. [Co- + insurance.]

Definition: Insurance jointly with another or others; specif., that system of fire insurance in which the insurer is treated as insuring himself to the extent of that part of the risk not covered by his policy, so that any loss is apportioned between him and the insurance company on the principle of average, as in marine insurance or between other insurers.

Source: Webster’s Unabridged Dictionary 1913 Edition



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Word of the Day

14 June 2025

FELLOW

(noun) a member of a learned society; “he was elected a fellow of the American Physiological Association”


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Coffee Trivia

The Boston Tea Party helped popularize coffee in America. The hefty tea tax imposed on the colonies in 1773 resulted in America switching from tea to coffee. In the lead up to the Revolutionary War, it became patriotic to sip java instead of tea. The Civil War made the drink more pervasive. Coffee helped energize tired troops, and drinking it became an expression of freedom.

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