Definition of "Both-to-blame clause"

In ocean marine insurance, provision stipulating that upon the collision of two or more ships, when all ships are at fault, all owners and shippers having monetary interests in the voyage of the ships involved must share in all losses in proportion to the monetary values of their interests prior to the occurrence of the collision. This clause supercedes all other provisions for the allocation of losses among owners and shippers in ocean marine policies.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Same as term Direct Response Marketing: method of selling insurance directly to insureds through a companies own employees, through the mail, or at airport booths. The company uses this ...

Group arrangement in which a network of attorneys provides legal services to the participants in the plan with the attorney fees being reimbursed by the provider. The attorneys who are ...

Period allowed an insured to notify an insurer of loss. Many policies require immediate written notice, or notice as soon as practicable. Different types of policies have their own time ...

Insurance company that restricts its underwriting of risks to one state. ...

Commercial liability insurance form providing coverage for an insured business in the event of a pollution liability suit. The insurance provides claims made basis liability coverage. ...

Liability arising out of the operation of a motel or hotel as it pertains to the physical safety of guests and their property. ...

Section of the insurance company that administers claims for the losses incurred by the insured. ...

Prior to 1988, right to withdraw retirement assets before age 59 1/2 without having to pay a 10% penalty under the following circumstances: medical expenses are incurred. the plan ...

Required minimum amounts of coverage that an insurance company will underwrite. For example, for auto liability coverage the minimum that many companies will write is $25,000. Most ...

Popular Insurance Questions