Q&As

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

read titleRead full title

Published by a UUֱ Construction expert
Published on: 11 November 2015
imgtext

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 if it only has its interest ‘noted’ on the policy.

Joint insured

In a joint insurance policy, both

Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Key definition:
Requirements definition
What does Requirements mean?

A DCO should include “Requirements” to which the development authorised by the DCO is to be subject. Similar to planning conditions, a requirement specifies the matters for which detailed approval needs to be obtained before the development can be lawfully begin.

Read more

Popular documents

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

If planning permission imposes restrictions on a licensed premises opening hours, once operational can

If planning permission imposes restrictions on a licensed premises opening hours, once operational can the personal licence holder apply for a Temporary Events Notice (TEN) to open for longer hours than those permitted in the planning permission?To use any property for a licensable activity both

Financial clean break orders in family proceedings

Financial clean break orders in family proceedingsDuty of the court to consider a clean breakAlthough there is no presumption in favour of there being a financial clean break between parties on divorce, the court is under a duty to consider whether it would be appropriate to exercise its powers so

Early leavers—preservation

Early leavers—preservationFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028 (save for members of the firefighters, police and armed forces public service pension schemes).The Finance Act 2022 will also give