coinsurance

noun

Definitions of coinsurance

English

the joint assumption of risk (=acceptance of responsibility) between multiple insurers

I would expect the Business Department and the Treasury to implement a similar system of co-insurance by taxpayers.

English

the joint assumption of risk (=acceptance of responsibility) between the insurer and the insured party

They had to take $4,000 out of their savings to cover the 20% coinsurance owed for Betty's cancer care.