CO-INSURANCE CLAUSE
It is hereby understood and agreed that this policy is issued, as requested by the assured, ___________________________ in its own name, but only on behalf of the following Co-Insurers who each themselves and not one (or the other, are severally and independently liable for their respective subscription hereto as specified below:
It is also agreed that ______________________ shall assume no liability whatsoever with respect to other Co-Insurer's subscription due to the mere fact that it is signatory to this Policy or otherwise named herein. Should ____________________________________ be one of the Co-Insurer above, its liability shall be limited to the extent subscribed and in no event will its liability exceed each subscription. It is also agreed that _________________________________shall attend to all matters connected with this Co-Insurance including settlement of claims and any agreement or decision which may be made between the Assured and _______________________________ shall be final and binding upon all other Co-insurers. Any notices which may be given by the Assured to _____________ _________ in writing or otherwise shall be deemed as given to all other Co-Insurers as well. Notwithstanding that each of the members independently assumes liability for his subscription as aforementioned, it is understood and agreed that, in the event of any claim payable abroad, the same shall be settled in full by the leader's Agent, on behalf of all the members as if this insurance is accepted solely by the leader.