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50/50 Clause - On Contractors All Risk and Erection All Risks

By Selvi Aldriani


50/50 CLAUSE
Risks : CEAR
Where separate Marine insurance has been effected by the Insured it is agreed that in the event of loss of or damage to the Property Insured due to a perils insured against being discovered after the risk has terminated under the Marine Insurance  and, if after proper investigation it is not possible to ascertain whether the cause of such loss or damage happened prior to the termination of the marine venture or subsequently. It is understood and agreed that the Insurers hereon shall contribute 50% or the properly adjusted claim provided the Marine Insurers also agreed to contribute 50% of the claim, such contribution to be without prejudice to subsequent final apportionment of the claim as may.
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