Definition: The term 'insurance 50e' is a technical jargon used in insurance industry, specifically in the context of property insurance. It refers to an "additional insured" clause that adds another party to the policy who will be held responsible for losses on property covered by the policy. In other words, the clause means that if any loss occurs to a third party who has been named as an "additional insured" under the policy, the insurer is not responsible for the loss. Instead, this additional insured person would be paid by the policyholder themselves based on the ratio of insurance coverage provided by each named party. The term is often used in conjunction with the concept of 'covered risks' in insurance, where a particular type of risk or event is considered to be covered under the policy and not covered if it is not. The 'additional insured clause' allows for this flexibility in terms of which party is responsible for any losses that may occur on property. In essence, the insurance 50e clause adds an additional layer of protection to a property insurance policy, providing a way for the insurer to continue providing coverage while also ensuring that risks are properly accounted for.

insurance 50e