Minggu, 29 Desember 2013

Coinsurance Deficiency Clause

This policy covers the loss sustained by the Insured which results from the application of a co-insurance or average clause in the Insured’s local underlying insurance policies.  Therefore, this policy shall pay the difference between the amount recoverable under such underlying insurance and the total amount of the loss which would have been recoverable under such primary insurance without application of a co-insurance or average clause.
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