The following Property practice note provides comprehensive and up to date legal information covering:
Joint insurance arises where two or more people insure separate insurable interests in the same property with the same insurer under a single insurance contract.
In the property context, joint insurance might arise where:
a landlord and a tenant who has paid a substantial premium for a long leasehold interest insure their respective capital interests in a building
the main contractor, the developer (as employer) and possibly also a provider of development finance arrange for a contractor’s all risks insurance policy to be taken out in their joint names to insure their respective interests in a building which is under construction
If a claim is made under a joint insurance policy:
none of the insured can recover more than their individual loss
the policy will specify how each individual loss is to be calculated and apportioned (assuming that the insurance proceeds are not to be applied in reinstating the building)
the insurer cannot subrogate against any of the joint insured
However, the risk for each joint insured is that the insurer may be able to avoid the entire policy if any one of them has failed to comply with its duties of disclosure and notification to the insurer.
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.You should also consider if the proceedings will be
This Practice Note provides guidance on claims for ‘use and occupation’ or mesne profits, and how and when double rent or double value can be claimed.Claims for use and occupationA claim for use and occupation is possible where there is occupation of land without an express agreement fixing the
BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. As a third country, the UK can no longer participate in the EU’s political institutions, agencies,
The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.