Definition

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  • Connector.

    Insurance under which the insurer and insured jointly bear responsibility. Also denotes insurance provided jointly by two or more insurers.

    Parlee McLaws LLP. “Glossary Of Common Financial and Legal Terms”, 4th ed.

For example, a provision in an insurance policy which stipulates that the insurer shall be liable for such proportion only, of loss or damage, as the amount of insurance bears to the value of the property at risk or the interest of the insurer therein; the insured being held as co insurer to the extent of any excess value above such insurance.
Parlee McLaws LLP. “Glossary Of Common Financial and Legal Terms”, 4th ed.