Calculation of indemnities when syndicate has insufficient insurance

The syndicate suffers $70,000 damage.

The coverage for this loss is limited to $40,000, resulting in an insurance insufficiency of $30,000.

No responsible

The syndicate can apportion the $30,000 among the ten co-owners.

Each co-owner receives a $3,000 apportionment representing his/her share of the $30,000 ($30,000 x 10% = $3,000).

The insurer does the following calculation:

Co-owner’s apportionment : $3,000


The portion of the syndicate’s deductible ($10,000 X 10%):


The co-owner’s
deductible :


Total payable by
the insurer : $1,500

The co-owner must pay $1,500.

at fault

The syndicate can claim the responsible co-owner for the $30,000.

The insurer of the responsible co-owner indemnifies for Civil Liability Coverage.