Question

__________ in insurance is the splitting or spreading of risk among multiple parties.

Q: Answer-__________ in insurance is the splitting or spreading of risk among multiple parties.

Coinsurance is the amount, generally expressed as a fixed percentage, an insured must pay against a claim after the deductible is satisfied. In health insurance, a coinsurance provision is similar to a co-payment provision, except co-pays require the insured to pay a set dollar amount at the time of the service.