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Question

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

A Reinsurance Correct Answer Incorrect Answer
B Coinsurance Correct Answer Incorrect Answer
C Blanket Assign Correct Answer Incorrect Answer
D Blanket Bond Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

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.

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