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What is Co-Insurance?

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Question ajoutée par Mohammed Amin Petiwala , CFO , Osool Poultry SAOC
Date de publication: 2016/02/01
Mamoun elbaghir abdalla mhamad Eltayeb
par Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company

Co-Insurance may mean :-

1/ When a number of insurance or reinsurance companies i.e ( number of reinsurers ) participate and cooperate to cover a single risk.

2/ The policy deductible or the amount that bear by the insured each and every claim.i.e the amount that deduct from total amount of the claim , if the amount of the claim is and the policy deductible is% then the actual amount of the claim to be paid to the insured is, hence the insured here is considered as Co- Insurer.

Thanking you.

M.N. Siddiqui
par M.N. Siddiqui , Manager Manpower Development , State Life Insurance Corporation of Pakistan

Co insurance is an arrangement in which more then one entity manage risk.

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