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.
Insured refers to the policyholder. In workers compensation insurance terms, the Insured is the person or organization (employer) protected (covered) by the insurance policy and is entitled to recover benefits under its terms. The insured is designated in Item 1 of the Policy Information Page.