Definition, Meaning & Synonyms

coinsurer

noun

/ˌkoʊɪnˈsʊrər/

Definition

A coinsurer is an insurance company that shares the risk and the premium of an insurance policy with one or more other insurers.

Examples

Many large construction projects involve a coinsurer to help spread the risk of potential claims.
The coinsurer collaborated with several local firms to offer comprehensive coverage.
In the event of a claim, each coinsurer will pay according to their share of the coverage.

Meaning

The term refers to multiple insurance companies that jointly provide coverage for a client’s insurance policy, dividing the responsibility and benefits among themselves.