Coinsurance hammer clauses provide for a sharing of defense and indemnity costs (between the...
coinsurer
A coinsurer is one that shares the loss sustained under an insurance policy.
Additional Information
This usually refers to an insured property owner that fails to purchase enough insurance to comply with the coinsurance provision and that, therefore, suffers part of the loss itself.
Related Terms
A coinsurance provision is defined as a property insurance provision that penalizes the insured's...
