<p>When more than one party comprises &quot;The Insured&quot; each of the parties shall for the purpose of this policy be considered as a separate and distinct unit and the word the Insured shall be considered as applying to each party in the same manner as if a separate policy has been issued to each of the said parties and the Insurers hereby agree to waive all rights of subrogation or action which they may have acquire against any of the aforesaid parties arising out of any occurrence in respect of which any claim is made hereunder provided nevertheless that nothing in this clause shall be deemed to increase the limit of the Insurer&#39;s Liability in respect of any one loss or series of losses as stated herein.</p>
