1. an insurance company or underwriter that shares the risk and responsibility of an insurance policy with one or more other insurers
Usage: commonly used in commercial and property insurance; plural: coinsurers

Examples

• The building was insured by three coinsurers, each covering a portion of the total risk.
• When the claim was filed, all coinsurers contributed to the settlement according to their agreed percentages.
• The primary insurer worked with two coinsurers to spread the liability on the large commercial policy.
• Coinsurers must coordinate their coverage terms to avoid gaps or overlaps in protection.
• The policyholder contacted each coinsurer separately to understand their specific coverage limits.