Common use of Defence Costs Clause in Contracts

Defence Costs. In respect of the insurance provided herein the Insurer agrees that, in the event of their requiring any claim to be contested by the Insured, they will pay all costs, charges, and expenses in connection therewith, including the defence of any suit against the Insured alleging such damage or destruction and seeking damage on account thereof. The Insurer may make such investigation, negotiation and settlement of any claim or suit as it deems expedient. The right to adjust such loss or damage with the owner(s) of the property is reserved to the Insurer and the receipt of such owner or owners in satisfaction thereof shall be in full satisfaction of any claim of the Insured for which such payment has been made.