SEVERAL LIABILITY CLAUSE Sample Clauses
A Several Liability Clause establishes that each party to an agreement is responsible only for its own obligations and liabilities, rather than being jointly liable with other parties. In practice, this means that if multiple parties are involved—such as co-insurers or consortium members—each is accountable solely for their respective share or portion of the contract, and not for the obligations of the others. This clause is essential for clarifying the extent of each party's responsibility, thereby preventing one party from being held liable for the defaults or failures of another, and ensuring that risk is allocated fairly among all participants.
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SEVERAL LIABILITY CLAUSE. LMA 5096 PLEASE NOTE – This notice contains important information. PLEASE READ CAREFULLY
SEVERAL LIABILITY CLAUSE. LMA 5096
SEVERAL LIABILITY CLAUSE. The liability of an insurer under this contract is several and not joint with other insurers party to this contract. An insurer is liable only for the proportion of liability it has underwritten. An insurer is not jointly liable for the proportion of liability underwritten by any other insurer. Nor is an insurer otherwise responsible for any liability of any other insurer that may underwrite this contract. The proportion of liability under this contract underwritten by an insurer (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the members of the syndicate taken together) is shown in this contract. In the case of a Lloyd’s syndicate, each member of the syndicate (rather than the syndicate itself) is an insurer. Each member has underwritten a proportion of the total shown for the syndicate (that total itself being the total of the proportions underwritten by all the members of the syndicate taken together). The liability of each member of the syndicate is several and not joint with other members. A member is liable only for that member’s proportion. A member is not jointly liable for any other member’s proportion. Nor is any member otherwise responsible for any liability of any other insurer that may underwrite this contract. You or Your representative can obtain further details of the syndicate numbers and the proportions of this insurance for which each of the Underwriters at Lloyd’s or HDI is liable by requesting them from Axis. Although reference is made at various points in this clause to “this contract” in the singular, where the circumstances so require this should be read as a reference to contracts in the plural. This Certificate is Insurance Council of Australia’s General Insurance Code of Practice compliant, apart from any claims adjusted outside Australia. The Insurers proudly support the General Insurance Code of Practice. The purpose of the Code is to raise standards and service in the general insurance industry. Any enquiry or complaint relating to this insurance should be referred to Axis in the first instance. If Axis require additional information, Axis will contact You to discuss. If Your complaint is not immediately resolved Axis will respond within fifteen (15) business days of receipt of Your complaint or agree a reasonable appropriate timeframe to respond. If this does not resolve the matter or You are not satisfied with the way a complaint has been dealt with, You should write to: Level 9, ▇ ▇...
SEVERAL LIABILITY CLAUSE. Our Limit of Insurance under this Policy for covered losses is several and not joint with other insurers party to this contract. We are liable only for the proportion of insurance we have underwritten. We are not jointly liable for the proportion of insurance underwritten by any other insurer. Nor are we otherwise responsible for any liability of any other insurer that may underwrite this Policy. Our liability may not be increased if any other insurer or other party to this contract does not satisfy all or part of its obligations.