NCL

Noncumulative Liability

The Owner’s Policy contains a noncumulative liability provision that applies if a mortgage covering the same interest in the land is excepted in Schedule B. The noncumulative liability provision does not apply to multiple Owner’s Policies (e.g., on different leaseholds or estates) or to Loan Policies covering different interests. If one basic charge is made for multiple policies where the preprinted noncumulative liability provision is not sufficient, you should add a noncumulative liability provision in Schedule B (or endorsement).

Exception

NCLX01 STG

Noncumulative Liability

This Policy is issued concurrently with ____________ Policy No. _________. Any payment made under said Policy reduces the coverage of this Policy by a like amount and shall be deemed a satisfaction of the matter as to which payment is made.
Comment: The Owner’s Policy contains a noncumulative liability provision that applies if a mortgage covering the same interest in the land is excepted in Schedule B. The noncumulative liability provision does not apply to multiple Owner’s Policies (e.g., on different leasehold or estates) or to Loan Policies covering different interests. If one basic charge is made for multiple policies where the preprinted noncumulative liability provision is not sufficient, you should add a noncumulative liability provision in Schedule B (or endorsement).

See Underwriting Manual