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.
Legal Definition of insured. : a person whose life, physical well-being, or property is the subject of insurance. the insured. Spanish Central: Translation of insured Nglish: Translation of insured for Spanish speakers Britannica English: Translation of insured for Arabic speakers.