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Reinsurance vs Coinsurance - What's the difference?

reinsurance | coinsurance |

As nouns the difference between reinsurance and coinsurance

is that reinsurance is (business|finance) insurance]] purchased by [[insurance company|insurance companies that spreads the risk associated with selling insurance around so the danger of one large monetary loss is minimized while coinsurance is (us) the joint assumption of risk between the insurer and the insured party.

reinsurance

English

Noun

(en noun)
  • (business, finance) Insurance]] purchased by [[insurance company, insurance companies that spreads the risk associated with selling insurance around so the danger of one large monetary loss is minimized.

    • coinsurance

    English

    (wikipedia coinsurance)

    Alternative forms

    * co-insurance

    Noun

  • (US) The joint assumption of risk between the insurer and the insured party.
  • (international) The joint assumption of risk between multiple insurers.

    • See also

    * coinsurer * copayment * deductible