Calculation of indemnities when syndicate decides not to submit a claim
The syndicate suffers $18,000 in damage, for which it is fully covered.
It decides not to submit a claim to its insurer. It can apportion the damage amount among all of the co-owners.
The syndicate can apportion the $18,000 among the ten co-owners.
Only the portion of the damage representing an insurance insufficiency can be claimed by the co-owners from their insurer.
The apportionment resulting from the application of a deductible is not covered.
So, the co-owner’s insurer will not indemnify him/her.
The syndicate can claim the responsible co-owner for the $10,000 deductible.
The insurer of the responsible co-owner indemnifies for Civil Liability Coverage.