Page 75 - Fire Insurance Ebook IC 57

The Insurance Times

(iii) Any notice under the policy is sufficient if given
by the bank.

(iii) Any adjustment, settlement , compromise or
reference to arbitration etc, in relation to any dispute
between the Insurer and the Insured , if made with
the bank shall be valid and binding on all insured
parties.

(iv) Breach in previous condition does not affect the
policy with respect to the bank's interest unless the
breach is committed by the bank.

(v) Any alteration or increase in risk does not make
the insurance invalidated, provided the bank notifies
the same as soon as it comes to their notice and
pays the additional premium.

(vi) The Company shall pay the Bank any sum in respect
of loss or damage under this policy and shall claim
that as to the Mortgager or owner, no liability
therefore existed, the Company then shall become
legally subrogated to all the rights of the Bank to
the extent of such payments .

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