A formal writing style is not necessarily âbetterâ than an informal style, rather each style serves a different purpose and care should be taken in choosing which style to use in each case.
insured contract. A term used to specify the limit of contractual liability coverage. This term can refer to lease agreements, easement agreements, and any other agreement that relates to the insured's business.
2. Insured: The Insured is the entity that has purchased the insurance coverages that are stated on the Certificate of Insurance and is considered the first named insured. What you should know-This entity should be the contractor or other party that has been requested to provide coverage. 3.