1. to insure jointly with one or more other insurers; to share insurance risk with another insurer
Usage: finance/insurance; transitive verb

Examples

• The two insurance companies agreed to coinsure the large commercial property.
• Multiple underwriters coinsured the high-value art collection to spread the risk.
• Banks often coinsure major loans to protect themselves against default.
• The insurers decided to coinsure the shipping cargo across the Atlantic.
• When the risk is too large for one company, several insurers will coinsure the policy.