Final answer:
In the context of insurance, an agent sharing his commission with the insured is known as rebating, which is generally considered an unacceptable practice. Co-insurance involves cost sharing between the policyholder and insurance company.
Step-by-step explanation:
An insurance agent sharing his commission with the insured refers to the practice of rebating. Rebating occurs when any part of the commission from an insurance transaction is given back to the insured by the agent as an incentive. It is not an approved method and can be illegal depending on the laws and regulations within a jurisdiction.
The other options mentioned refer to different concepts within the insurance industry: Co-insurance is when an insurance policyholder pays a percentage of a loss, and the insurance company pays the remaining cost. Indemnification refers to the compensation provided for loss or damage, and Exclusion pertains to specific conditions or circumstances listed in an insurance policy that are not covered by that policy.