Common use of General Interest Clause in Contracts

General Interest. The interest of other parties including, as the case may be, lessors, mortgagees, banks, hire purchase companies specified in the schedule (or notified by you to us in writing from time to time) is noted in this insurance, but only to the extent of their financial interest in the property insured, but not as joint insured. In the event of any claim: a) you will immediately declare to us the names of such interested parties; and b) we will consult with such declared interested parties as regards the manner and method of any indemnity so as to protect the direct financial interests of such parties.