insurance certificate

AugustineArulnesan · Post by **AugustineArulnesan** » Wed Feb 25, 2009 12:00 am

I request the opinion the certificate of insurance which has been issued as under

Heading: Certificate of insurance
Marine Insurance Certificate no:
Security No:
Broker:
Issue date:

in the end it states that"It is also agreed that the signature of the insurance company having the largest participation (the "Lead Insurer") to this Open Policy confirms the participation of all Insurance Companies mentioned herein and the Lead Insurer, as agent, signs this Certificate as for and on behalf of the all Insurance Companies mentioned herein"
It mentions the name of insurance companies who are participating and their respective share of participation. It goes on to state that this certificate is subscribed by teh above named insurance companies. Each Company shall be liable only for its own respective proportion.

It is signed by the lead isurer as

sign
lead insurer comapny name.

Is this certificate acceptable?

Rgds
Rajan Sharma

DanielD · Post by **DanielD** » Thu Feb 26, 2009 12:00 am

in my opinions, yes. What would be wrong?
Regards
Daniel

GlennRansier_ · Post by **GlennRansier_** » Thu Feb 26, 2009 12:00 am

Based on what I am reading, the certificate appears to be in compliance with ISBP paragraph 174, hence acceptable.

ThuHoangAnh_ · Post by **ThuHoangAnh_** » Fri Feb 27, 2009 12:00 am

Hi,

I have occassionally seen this type of “co-insurance” certificate. I agree with Daniel and Glenn Ransier that the described insurance certificate is complying, hence, acceptable.

Best regards,
N.H.Duc