Guam § 18702 - Double Insurance: Contribution.
Full text of Guam Guam Code Annotated § 18702 — Double Insurance: Contribution., with citation guidance and answers to common questions.
§ 18702. Double Insurance: Contribution.
In case of double insurance, the several insurers are liable to
pay losses thereon as follows:
(a) Fire insurance. In fire and miscellaneous insurance,
each insurer shall contribute ratably without regard to the
dates of the several policies.
(b) Marine insurance. In marine insurance, the liability
of the several insurers for a total loss, whether actual or
constructive, where the policies are not simultaneous, is in
the order of the dates of the several policies. No liability
attaches to a second or other subsequent policy, except as to
the excess of the loss over the amount of all previous
policies on the same interest. If two (2) or more policies
bear the same date, they are deemed to be simultaneous, and
each insurer on simultaneous policies shall contribute
ratably, the insolvency of any of the insurers does not affect
the proportionate liability of the other insurers. All insurers
on the same marine interest shall contribute ratably for a
partial or average loss.
Frequently Asked Questions About Guam § 18702
What does Guam Code Annotated § 18702 cover?
Section 18702 ("Double Insurance: Contribution.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 18702?
A common citation format is "Guam Code Annotated § 18702" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 18702 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.