Definition of DOUBLE INSURANCE in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms.
Definition of DOUBLE INSURANCE
Double insurance is where divers' insurances are made upon the same interest in the same subject against the same risks in favor of the same assured, in proportions exceeding the value. 1 Phill.Ins. §§ 359, 366. A double insurance exists where the same person is insured by several insurers separately in respect to the same subject and interest. Insurance Co. v. Gwathmey, 1 S.E. 209, 82 Va. 923; Lowell Mfg. Co. v. Safeguard F. Ins. Co., 88 N.Y. 597; Cherewaty v. Grangers Mut. Fire Ins. Co., 181 Md. 149, 28 A.2d 824, 825; Broune v. Franklin Fire Ins. Co., 225 Mo.App. 665, 37 S.W.2d 977, 981.
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That's the definition of DOUBLE INSURANCE in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms. Courtesy of Cekhukum.com.
