Insurance companies have had events that are somewhat difficult to insure. A clear example is aviation accidents or train, so the invention of new processes and coinsurance have enabled these entities despite the greatness of the events giving people achieve security for which these entities were created. Co-insurance is a contract whereby more insurers decide to join or be associated somehow with the aim of achieving secure major events such as those mentioned above, this is done in order to minimize costs by the insurer as at times economic values exceed the limits insured valued by insurance. The coinsurance the insured person or entity has the ability to choose who can ensure and that sense more clearly each person can choose which insurance company takes care of every part of their property; is proper to mention that in the underwriting process and can intercede two Insurers also may have up to eight and if necessary more. It is very important that the hand of coinsurance another important activity called reinsurance, which is defined as the method by which an insurer decides to transfer part of its risks valued in order to lessen their loss. Co-insured party to the contract individually decide which percentage of the risk they want to cover, this occurs because some insurers have higher rates to cover any eventuality, but generally this distribution is 50/50, however the total percentage may be distributed as desired between the parties involved in this contract. It is good to clarify that although the risk sharing is done by each insurer, this is not done if the client disagrees with this distribution. Today thanks to the great utility that provides this type of insurance contracts they may have some types of coinsurance that offer different strengths, some of these guys are: Direct Coinsurance: This is a contract whereby the primary insurance entity (Splitter) decides to give some risks to other insurers, all this process is always to inform the insured.
Internal Coinsurance: This is a contract by which the primary entity cedes certain risks to other entities internally, without informing the insured. It is good to clarify that in case of any loss the entity liable for the insurance as if it were one. Coinsurance tax: In co-insurance contract is the insured decides to delegate entity or percentages to care in case of an accident and in turn may accept or reject proposals made by such entities. Given this demonstrated that the coinsurance shown to us as an excellent way to ensure goods and especially if they have great economic value, so there is no longer any excuse for not caring if our capital contracts are currently so simple but useful as co-insurance..