Joint names insurance—construction contracts


Produced in partnership with Fisher Scoggins Waters LLP
Practice notes

Joint names insurance—construction contracts


Produced in partnership with Fisher Scoggins Waters LLP

Practice notes
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This Practice Note examines the nature of joint names insurance, the distinction between joint and composite insurance and its impact on construction insurance contracts generally.

A common requirement of construction contracts is to execute insurance in joint names. This means the interests of the various parties are covered under a single policy.

Under the heading of joint names insurance we will refer to:

  1. •

    joint insurance, and

  2. •

    composite insurance (often referred to as Co-insurance)

Joint insurance—definition

Insurance which under a single policy covers the identical interests of two or more parties in the subject-matter of the insurance, for example, spouses' interests in a marital home.

A breach by one party of the policy conditions for example by fraud, Non-disclosure, breach of condition or breach of Warranty, may affect the rights of the other insured.

In joint insurance, the respective insureds’ rights stand and fall together. That is to say, they have undivided interests in the subject-matter. If the policy is truly joint in that the interest on the part of one or more persons

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Co-insurance definition
What does Co-insurance mean?

Where a policy is written and claims are paid, by more than one insurer or reinsurer, under separate contracts of insurance.

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