Common use of Principals Clause in Contracts

Principals. The insurer will indemnify any principal of the insured, where requested by the insured, but only to the extent that liability arises solely out of recreational water sports for the principal by or on behalf of the insured and provided that: a) the principal shall as though he were the insured observe, fulfil and be subject to the terms and conditions of this policy in so far as they can apply; and b) the insurer’s liability under this clause shall in no way operate to increase the limit of indemnity; and c) the principal is not indemnified under any other insurance or in any other way.