A collateral insurance is the participation of several insurance companies in the insurance of the same risk. Usually this form of the insurance is main during the cover of large risks, in the industrie as well as liability range.

Several legally independent contracts in an insurance policy are summarized. Each insurance company is responsible only for its portion of the comprehensive policy sum, it exists thus no Gesamtschuldnerschaft.

Usually an insurance company is called "leading". The "leading" leads the correspondence with the insurant, draws in the insurance premiums for itself and its Mitversicherer and adjusts any damage. But the Mitversicherer pay a commission, the guidance commission in such a way specified to the leading.

Collateral insurance can be differentiated into the usual form of an open as well as a covered collateral insurance. Similarly the latter comes an insurance pool (e.g. so-called "aviation pool", "atomic pool" or "Pharmapool"), is not however not the same.

Each insurance company applies opposite the insurant as Erstversicherer and is thereby direct contracting party (contrary to the reinsurance, where only the Erstversicherer closed a contract with the and thus also only these requirements can make valid).

Articles in category "Collateral insurance"

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Related Websites

We found here 5 related websites.

• Collateral Insurance Assistance - Langley Federal Credit Union ...
  Complete and submit the Collateral Insurance Verification Form to satisfy your obligation to notify the Credit Union of the insurance coverage placed on the ...


• Insurance Verification Form - CUNA Mutual Group
  This form can be used to satisfy your obligation to notify your financial institution of the insurance coverage placed on the collateral subject to your ...


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• Verify your collateral insurance on-line / Vehicle Services ...
  Live or work in Leon or surrounding counties in Florida, and you can join Florida Commerce Credit Union.


• Welcome Credit Union Members - CUNA Mutual Group
  Complete and submit one of these forms to satisfy your obligation to notify your credit union of the insurance coverage placed on the collateral subject to ...