Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Co-insurance definition

What does Co-insurance mean? An arrangement where two or more insurers insure the same risk for stated percentage shares, with each co-insurer severally (not jointly) liable only for its own proportion of premium and claims. In practice this is typically placed on a subscription policy with a lead insurer and a following market; claims are adjusted by the lead and, where a claims agreement or follow-the-leader clause applies, followers will generally be bound to pay their proportion. Although often evidenced by a single policy document, each subscribing insurer’s line constitutes a separate contract with the insured, and the insured must recover each insurer’s...

Joint names, joint and composite insurance in UK construction contracts: subrogation, limits of indemnity, contractual interaction, and JCT/NEC/ICC provisions with leading cases

Published by a LexisNexis Construction expert

Practice notes

This Practice Note explores the nature of joint names insurance, the differences between joint and composite cover, and the broader implications for construction insurance contracts. It is a frequent stipulation of construction agreements that insurance be placed in joint names, so that one policy extends protection to the interests of all parties involved. Under the umbrella of joint names insurance we mean:

joint insurance, and
composite insurance (commonly known as Co-insurance)

Joint insurance—definition

Insurance that, through a single policy, secures the identical interests of two or more parties in the insured subject matter—for instance, spouses’ stakes in a matrimonial home. A breach by any one party of the policy terms—such as fraud, Non-disclosure, breach of condition or breach of Warranty—can impair the other insured’s rights. In joint insurance, each insured’s entitlements stand or fall together; in other words, they hold an undivided interest in the subject matter...

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Web page updated on 26/05/2026

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