Underwriters' and Combination Policies

  1. Law
  2. Georgia Code
  3. Insurance
  4. Insurance Generally
  5. General Provisions
  6. Underwriters' and Combination Policies

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  1. Two or more authorized insurers may jointly issue and shall be jointly and severally liable on an underwriters' policy bearing their names. Any one insurer may issue policies in the name of an underwriter's department and the policy shall plainly show the true name of the insurer.
  2. Two or more insurers may issue a combination policy which shall contain provisions substantially as follows:
    1. That the insurers executing the policy shall be severally liable for the full amount of any loss or damage according to the terms of the policy or for specified percentages or amounts of such loss or damage, aggregating the full amount of insurance under the policy; and
    2. That service of process or of any notice or proof of loss required by the policy upon any of the insurers executing the policy shall constitute service upon all insurers.
  3. Reserved.
  4. This Code section shall not apply to cosurety obligations.

(Code 1933, § 56-2417, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1999, p. 878, § 13.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 43 Am. Jur. 2d, Insurance, § 61.

C.J.S.

- 44 C.J.S., Insurance, §§ 3, 7, 20, 21. 46A C.J.S., Insurance, §§ 2229, 2231, 2232.

ALR.

- Prior or subsequent policy issued by insurer itself as a defense to or a limitation of recovery under another policy, 125 A.L.R. 846.


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