What is Bailment

Bailment is a legal relationship wherein a person (the “bailor”) transfers physical possession of personal property to another person or entity (the "bailee"). Only possession, not ownership, is transferred.

The Right to Contribution

Because contribution is an excellent way for an insurer to recoup some of the damages that it pays on a particular loss, consideration should be given to separate policies that an insured or other entity may maintain on the same risk, property and/or interest, so that contribution may be pursued...