other insurance clause pdf
This extension is not applicable to insurance on stock-in-trade and/or merchandise. the company shall be liable for its prorata share of the loss in the … OTHER CONTENTS CLAUSE (i) General Rule : An insurance on contents may be extended to include the "Other Contents" up to a maximum limit of RM1,000 without additional premium. 1968] NORTH CAROLINA LAW REVIEW the policy shall not … 2 • Insurance Clauses in Construction Contracts The Basics of Insurance Insurance is a contract between the Insured (the first party) and the Insurer (the second party) that sets out the Insurer’s promise to pay a specified amount at a future time if a defined event occurs. These events broadly break down into the following groups: CGL policy, the "other insurance" clause is found in Section IVŠ Commercial General Liability ConditionsŠItem 4, with the appropriate heading, "Other Insurance." First, Many commercial contracts include provisions requiring one or other of the parties to effect insurance. Like other multinational insurance options, it has both benefits and limitations. AIG will accommodate its clients’ preferences when designing multinational programs; in doing so, we believe our clients should be aware of the ... Other Insurance . Insurance Clauses in Commercial Contracts . Such clauses are inserted into commercial contracts because the parties want to transfer to an insurer the financial … used in conjunction with insurance clauses. Annot., 76 A.L.R.2d 502, 503 (1961). Liability Limitation Clauses-Property Insurance Three types of limitation clauses are most frequently employed. Finally, a section is included containing the most commonly asked questions from manual users 4. Disclaimer: The following clauses are examples of actual data protection clauses used in technology agreements, adapted to remove any identifying information regarding the providers or customers. (.1) "Loss prorata":. Insurance Condition in Section IV – Conditions is deleted and replaced by the following: (b) Any other available insurance purchased by you, or to which you have been added as an insured or an additional insured or under which, you are a party to an “insured contract”. Sample Contract Clauses By Stephen M. Foxman, Esq. For different kinds of an insurance policy; suitable and conditions are added which are called insurance contract clauses. Elements of Insurance Contracts are basically 2 types; (1) the elements of the general contract, and (2) the element of special contract relating to insurance. ability under policies with conflicting "other insurance" clauses. 1 "Other insurance" clauses are "clauses which purport to vary the cov-erage of the policy if there is another policy or other policies protecting the risk insured against." insurance to cover its obligations to your Entity, make certain it does have the assets to indemnify the Entity for those uninsured or underinsured areas of risk. There are three basic forms of indemnification/hold harmless provisions that can be used in State contracts: 1. Other types of insurance may be warranted depending on the unique risks that arise from the contractual Valid and Collectible Insurance To be considered "other insurance" for the purposes of this policy condition, the other insurance must be both valid and collectible. A Financial Interest Clause (FIC) is one of many options available to companies with multinational exposures. 375 (2012) • Our presentation will be divided into 3 parts • Part 1 will include a discussion of the language contained in non-cumulation clauses and the original drafting and purpose of the clause • The “Non-Cumulation Clause”: An “Other Insurance Clause” by Another Name, 60 Kan. L. Rev.