What must happen when two policies have the same limit and the loss exceeds one limit?
Ontario, Canada
The following excerpt is from Passero v. Fitt, 2015 ONSC 6723 (CanLII):
Bastarache J. did not say in so many words what must happen when two policies have the same limit and the loss exceeds one limit or the total of the two. But he concluded his decision by quoting Lord Mansfield, who said in Godin v. London Assurance Co. (1758), 97 E.R. 419, “As between them [the insurer and insured], and upon the foot of commutative justice merely, there is no colour why the insurers should not pay the insured the whole: for they have received a premium for the whole risque.”
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