Common use of Joint Insured Clause in Contracts

Joint Insured. a. If more than one Insured is named on the “Policy Declarations”, the first Named Insured will act for itself and for every other Insured for all purposes of this insurance. If the first Named Insured ceases to be covered, then the next Named Insured will become the first Named Insured. b. If any Insured, or partner, or officer of that Insured has knowledge of any information relevant to this insurance, that knowledge is considered knowledge of every Insured. c. An “employee” of any Insured is considered to be an “employee” of every Insured under this insurance. d. If this insurance or any of its coverages is cancelled or terminated as to any Insured, loss sustained by that Insured is covered only if discovered by the Insured during the period of time provided in V. A. 8. e. The Insurer will not pay more for loss sustained by more than one Insured than the amount the Insurer would pay if the loss had been sustained by one Insured.