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.
Named insured. An individual in whose name the insurance contract is issued and who is specifically identified as the person being covered.FAQs:n individual in whose name the insurance contract is issued and who is specifically identified as the person being covered.