Composite Insurance Policy

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Question from S.M.:
dear sir,
if a cargo insurance policy shows two names as assured, is it necessary to be endorsed by both of them to be passed on? how such policy is named? composite policy?
regd
S.M.

1st Response from T.O. Lee:
Dear Mr. M.,
Your query is not so simple to provide a standard answer as there are many variables, for example,

Whether the other insurer participates as a head insurer? or
Whether he participates as a co-insurer? or
Whether he participates as an underwriter? or
Other variables.........
The answer may be different depending on the status of the other insurers.
We can give specific analysis only after understanding the whole case. This would be an assignment as we need to spend more time and efforts on the case. Such complex work is not covered by the Premium Membership free enquiry benefits. Hope you understand this.
Best regards,
T. O.

Question Refined by S.M.:
dear sir,
thanks for your reply and also sorry for not being able to express my question correctly. actually i'm interested in a insurance policy which shows "negotiating bank and also the beneficiary as the assured". when the document was presented, only the negotiating bank endorsed on the back. my question was whether it is necessary that both of the nominated bank and the beneficiary should sign?
regd
S.

T.O. Lee's Answer to the Refined Question:

Final Remark by S.M.:
Dear Sir,
Thank you very much for you kind reply. Actually the insurance policy is already issued. i'm observing it as the issuing bank. my understanding says that the document is not discrepant if it is endorsed by the nominated bank only.
Regards
S. M.

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