COI

Coinsurance

There are two types of coinsurance: coinsurance with one or more title insurers where each issues a separate Policy (or joins in the same Policy) to assume a portion of the total liability; and coinsurance by the insured where the aggregate Policy or Policies are issued for less than the sales price or loan and the insured assumes a portion of the risk.

Exception

COIX01 STG

Coinsurance

This policy is issued contemporaneously with Policy No._____________ of (Name of Insurance Company (ies) for $___________________. The liability of the Company hereunder is hereby limited to ____________ of any loss, but said liability shall not exceed the face amount of this policy.
Comment: Use this exception where two or more title insurers issue a separate Policy assuming part of the risk on a Mortgagee or Owner Policy.

This policy is issued contemporaneously with policy No. ____________ of (blank) company for $__________.

At the time liability for any loss shall have been fixed pursuant to the conditions of this policy, this Company shall not be liable to the insured for a greater portion of the loss than the amount that this policy bears to the whole amount of insurance held by the insured under this and the said policy.

This policy is issued contemporaneously with policy No. ____________ of (blank) company for $__________ and No. ____________ of (blank) company for $__________.

At the time liability for any loss shall have been fixed pursuant to the conditions of this policy, the Company shall not be liable to the insured for a greater portion of the loss than the amount that this policy bears to the whole amount of insurance held by the insured under this and the said policies.

This policy is issued contemporaneously with policy No. ____________ of Commonwealth Land Title Insurance Company for $__________, No. __________ of (blank) company for $__________ and No. ____________ of (blank) company for $__________.

At the time liability for any loss shall have been fixed pursuant to the conditions of this policy, the Company shall not be liable to the insured for a greater portion of the loss than the amount that this policy bears to the whole amount of insurance held by the insured under this and the said policies.

Each of the co-insuring companies will, in drawing its policy, delete the reference to it, its number and the amount of insurance.

Note: You may add additional local exceptions here. Please consult with our underwriting personnel in preparing appropriate provisions.

See Underwriting Manual