Co-Insurance Clause for Heavy Equipment

CO-INSURANCE CLAUSE FOR HEAVY EQUIPMENT #

This Insurance is Co-Insurance among the under mentioned Insurance Companies who by signature here to each by themselves and not one for the other, severally and independently have the rights and assume the Liabilities in Proportion to their  respective  shares as mentioned below.

P.T. _______________as the  representatives of the Co-Insurers shall attend to all matters connected  with  this  Co-Insurance including collection of  insurance premium  and processing of claims and payment of claims which is collected from each Co-Insurer.

Any Agreement or  decision which  may  be  made between the Insured and P.T. _______________ in connection with this Co-Insurance shall be final  and  binding  upon the Co-Insurers with exception that any increase of liability over and above the initial maximum limit liability will be subject to prior agreement of Co-Insurer.

Any notice which may given by  the  Insured  to <<company>>  in writing or otherwise shall be deemed to be given all Co-Insurers.

Name of Co-Insurance and their respective share:

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—  (insert the Co-members please)

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