coinsuring
Splitting risk together
Coinsuring is the present participle of coinsure, meaning to share insurance risk between multiple parties.
In most arrangements, this involves the policyholder bearing a percentage of costs after meeting a deductible, while the insurer covers the remainder.
Under our plan, we're coinsuring at 20 percent, so we pay a fifth of covered expenses.
The term also applies when multiple insurance companies jointly underwrite a large policy, each assuming a portion of the liability.
Payments for insurance coverage
- claimsStatements of truth
- lossesThings subtracted from standing
- indemnityProtection against financial loss
- deductiblesPre-coverage personal payments
coverage limits · liability · solvency · reserves · settlement · payout · contribution · assessment
Owner of insurance contract
- underwriterOne who assumes financial risk
- syndicateCombined group pursuing shared interest
- consortiumCooperative group for ventures
- poolCollective fund or basin
Distributing potential losses collectively
- poolingMerging shared contributions
- proportionalScaled to match another
- treatyBinding pact between nations
- facultativeCapable but not obligated
layering · retention · ceding · assuming · participation · allocation · apportionment · splitting
Adopted principle of action
- agreementShared position between parties
- certificateFormal written attestation
- endorsementFormal expression of support
- clauseProvision in agreement
terms · conditions · limits · exclusions · provisions · schedule · declarations · binder
Non-residential buildings for commerce
- catastropheDevastating, large-scale misfortune
- marineRelating to the sea
- aviationFlying or operating aircraft
- energyPower to do work
construction · industrial · wholesale · specialty · infrastructure
premiums
Payments for insurance coverage
- claimsStatements of truth
- lossesThings subtracted from standing
- indemnityProtection against financial loss
deductibles · coverage limits · liability · solvency · reserves · settlement · payout · contribution · assessment · valuation
policyholder
Owner of insurance contract
- underwriterOne who assumes financial risk
- syndicateCombined group pursuing shared interest
- consortiumCooperative group for ventures
risk-sharing
Distributing potential losses collectively
- poolingMerging shared contributions
- proportionalScaled to match another
- treatyBinding pact between nations
facultative · layering · retention · ceding · assuming · participation · allocation · apportionment · splitting · distribution
policy
Adopted principle of action
- agreementShared position between parties
- certificateFormal written attestation
- endorsementFormal expression of support
clause · terms · conditions · limits · exclusions · provisions · schedule · declarations · binder · slip
commercial real estate
Non-residential buildings for commerce
- catastropheDevastating, large-scale misfortune
- marineRelating to the sea
- aviationFlying or operating aircraft
energy · construction · industrial · wholesale · specialty · infrastructure