50:50 Clause with CAR/EAR Policy

50:50 CLAUSE WITH CAR / EAR POLICY #

Where separate CAR/EAR insurance has been affected by the Insured it is agreed that in the event of loss or damage to the Property insured due to a peril insured against hereunder being discovered after the risk has terminated under the marine insurance and, if after proper investigation it is not possible to ascertain whether the cause of such loss or damage happened prior to the termination of the marine venture or subsequently, it is understood and agreed that the Insurers herein shall contribute 50% of the property adjusted claim, the CAR/EAR Insurers also agreeing to contribute 50% of the claim, such contribution to be without prejudice to subsequent final apportionment of the claim as may be agreed between the Insurers herein and the CAR/EAR Insurers in the light of the terms and conditions of the respective policies.