Co-insurance

A Coinsurance is the involvement of several insurance companies in the insurance of the same risk. It is usual, this form of insurance in the coverage of large risks, primarily in the industrial sector.

Several legally separate contracts are summarized in an insurance policy. Every insurance company is only liable for its share of the total sum insured, so there is no joint and several liability.

Typically, an insurance company is referred to as " sponsor". The " leading" leads the correspondence with the policyholder, pulls the insurance premiums for himself and his co-insurer a regulated and any damages. For the co-insurers pay the leader, according to a commission arrangement, the so-called leadership commission or premium.

Coinsurance can be distinguished in the usual form of an open and a concealed or silent coinsurance. The latter is an insurance pool (eg so-called " aviation pool ", " atomic pool " or " pool Pharma " ) is similar, but is not the same.

Every insurance undertaking applies to the policyholder as a primary insurer and is thus a direct contract partner (as opposed to reinsurance, where only the primary insurer has a contract with the reinsurer and thus can make even these claims ).

• Insurance
• Insurance Law