Coinsurance is A clause in an insurance policy to prevent settling for an incorrect amount when there is a claim An insuring agreement to carry a specific limit of coverage in relation to the value of the property An.endorsement to carry the least coverage an insured can afford and still pay the claim A loss settlement approach to the loss after a claim if there are ambiguities Question 16 3 pts Pro-Rata way of settling a claim is to Settle a claim with the first company the insured is covered with Settle the claim equally amoung two insurance companies on the risk Settle a claim proportionately between each insurance company based on the share of the total insurance in force Settle the claim based on the actual cash value of the loss