Insurance
Co-Insurance — Premium Split Between Insurers
Recording the lead insurer's share of a co-insurance arrangement on a large property risk.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Premium Receivable (Lead Insurer Share 60%) | Asset (+) | 36,000.00 | - |
| Payable to Co-Insurer (40% Share) | Liability (+) | - | 24,000.00 |
| Written Premium (Lead Share) | Revenue (+) | - | 60,000.00 |
💡 Accountant's Note
The lead insurer collects the full premium and remits the co-insurer's share. Each insurer only recognizes their own proportional share as revenue and bears only their share of claims.
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