Noncumulative Liability
Underwriting Manuals
Standard Exceptions
- No references available.
Bulletins
- No references available.
Forms
- No references available.
Table of Contents
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).
Exceptions
NCLX01
STG
12/01/1995
V
2
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).
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).