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.
An insurance contract is a document representing the agreement between an insurance company and the insured.Central to any insurance contract is the insuring agreement, which specifies the risks that are covered, the limits of the policy, and the term of the policy.bviously, the contents of an insurance contract depends on the type of policy, what the insurance applicant wants, and how much he is willing to pay. The details of insurance policies are covered in Standard Insurance Policies.