A type of insurance in which the insured and the insurer share a risk of loss due to fire is:
A) reinsurance.
B) co-insurance.
C) non-forfeiture insurance.
D) no-fault insurance.

Question

Quizplus · Accepted Answer

Co-insurance is a type of insurance arrangement where the insured and the insurer share the risk of loss, typically according to a predetermined percentage. This concept is often applied in property insurance, including policies that cover fire damage, where both parties are responsible for a portion of the loss.

A Type of Insurance in Which the Insured and the Insurer