Amendments to and termination of the insurance contract

Cl. 8-4 does not protect the co-assured third party from the person effecting the insurance amending or terminating the insurance contract to the detriment of the co-assured. As opposed to a co-assured mortgagee duly recorded with the insurer, the co-assured is not entitled to any specific notice of amendments or early termination of the policy. In theory, the co-assured may obtain the insurer’ agreement that he shall be notified, but that is rarely, if ever, done.  The better alternative is for the co-assured to take out an insurance in his own name if he does not trust his contracting party to maintain the insurance as originally agreed.  Clause 8-4 will apply also to independent co-insurance pursuant to Cl. 8-7.