Definition of "coinsurance" [co•in•sur•ance]

• Insurance held jointly by two or more insurers. (noun)
• A form of insurance in which a person insures property for less than its full value and agrees to be responsible for the difference. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "- Admiral has extended its long-term coinsurance and reinsurance arrangements with Munich Re for its U.K.,"
• "In fact, the regulations impose a major vise on private insurance, restricting a company's ability to increase cost sharing (such as coinsurance, deductibles and out-of pocket limits) as well as copayments ( "more than the sum of medical inflation plus 15 percentage points or $5 increased by medical inflation")."
• "That 13% savings also happens roughly to match what economic studies estimate for the economy as a whole if the national "coinsurance" rate were corrected for the tax bias in favor of insured spending."