Excess insurance on groups?
Hi. I'm just about to enter a non equity group and the only concern I have is part of the contract:
The Member shall be personally responsible for costs arising from his invalidation of the Company's insurance policy, from operating beyond the expiry of the insurance policy, from uninsured risks, and from that part of any claim which exceeds the limit of liability.
All fair enough though the last bit seems to leave you open to the excess of any insurance claim. Is this standard or have any people had bad experiences of such agreements?