co-insurance
Where one insurer is in direct contractual relationship with the insured for part of the same risk. Each co-insurance is a separate contract with the insured and a co-insurer is not obliged to follow the decision of another co-insurer. Co-insurance can also mean self-insurance of some part of the risk by the insured.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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