Q&As

What is the difference between joint insured, co-insured and composite insured?

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Published on LexisPSL on 11/11/2015

The following Construction Q&A provides comprehensive and up to date legal information covering:

  • What is the difference between joint insured, co-insured and composite insured?
  • Co-insured
  • Joint insured
  • Composite insured

What is the difference between joint insured, co-insured and composite insured?

In financing and construction documentation for development projects it is usual to see requirements for parties to arrange insurance so that a lender, or other interested party, is joint insured, co-insured or composite insured—but what is the difference?

Co-insured

Referring to ‘co-insurance’ can mean either joint insurance, or composite insurance. Either way, being co-insured will offer the lender, or other interested party, greater protection than it would

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