(1) In property insurance, a clause under which the Insured shares in losses to the extent that he is underinsured at the time of loss; (2) Where two or more Insurers each have part of the risk under a single insurance policy.
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Self-ignition of combustible material through chemical action (as oxidation) of its constituents. In marine shipments it may occur when cargo such as soft coal or lignite is loaded in a wet condition.