When two or more policies cover the same interests for the same exposures, each policy is said to represent "other insurance" to the other. Most insurance policies contain clauses that specify how or if claims will be paid if other insurance exists for the same exposures.
In health insurance, the existence of one or more other contracts covering the same interests and perils as the one for which application is or has been made. If duplicating other insurance exists, benefits are paid proportionately from all policies so the insured does not realize a profit from the loss.
The existence of other contracts covering the same interest and perils. See also Concurrent Insurance. (G)
Normally an insured must disclose to an insurance company from whom he is purchasing insurance, information about what insurance he already carries on the property. As a matter of principle, the insured should also advise existing insurance carriers of new policies which he is taking out. This is an essential point in the matter of disclosure. Liability insurance coverage which gives protection because of liability arising out of ownership, use or occupancy; operation or maintenance of buildings or premises.
The existence of another contract covering the same interest and perils.
Normally an insured must disclose to an insurance company from whom he is purchasing insurance, information about what insurance he already carries on the property. As a matter of principle, the insured should also advise existing insurance carriers of new policies which he is taking out. This is an essential point in the matter of disclosure. It is however frequently waived, as the more routine policies carry some such wording as "other concurrent insurance permitted without notice until required."
