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.
duties and what is and is not covered. Throughout this policy the words you and your refer to the Named Insured shown in the Declarations. The words we, us and our refer to the Company providing this insurance. The word insured means any person or organization qualifying as such under SECTION II--WHO IS AN. INSURED. Other words and phrases that appear in quotation marks have special meaning.