Insurance Policy definition: Copy, customize, and use instantly
Introduction
The term "Insurance Policy" refers to a formal contract between an insurer and a policyholder that outlines the terms and conditions under which the insurer provides financial protection against specified risks, such as property damage, illness, or loss. The policy defines the coverage, premiums, and other details that govern the agreement.
Below are various examples of how "Insurance Policy" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Insurance Policy" as a contract providing financial protection
This definition ties "Insurance Policy" to financial protection.
"Insurance Policy" means a contract between an insurer and a policyholder that provides financial protection or compensation for specific risks or losses as outlined in the policy's terms and conditions.
Definition of "Insurance Policy" as a formal agreement outlining coverage and premiums
This definition connects "Insurance Policy" to coverage and premiums.
"Insurance Policy" refers to a formal agreement between an insurer and the insured that specifies the coverage, premiums, terms, and conditions for the protection provided by the insurer.
Definition of "Insurance Policy" as a written contract for risk management
This definition links "Insurance Policy" to risk management.
"Insurance Policy" means a written contract designed to manage and mitigate risk by transferring the financial burden of certain losses from the insured to the insurer in exchange for regular premium payments.
Definition of "Insurance Policy" as a document specifying insurance coverage
This definition ties "Insurance Policy" to coverage details.
"Insurance Policy" refers to a document that specifies the insurance coverage provided, including the risks covered, exclusions, premiums, and claims procedures, offering a clear understanding of the insured's protections.
Definition of "Insurance Policy" as a contract that compensates for specific losses
This definition connects "Insurance Policy" to loss compensation.
"Insurance Policy" means a contract between the insurer and policyholder that compensates the policyholder for specified losses, such as property damage, illness, or injury, according to the terms defined in the policy.
Definition of "Insurance Policy" as an agreement covering financial risk
This definition links "Insurance Policy" to financial risk coverage.
"Insurance Policy" refers to an agreement under which an insurer provides financial protection against certain risks, with the insured paying premiums in exchange for the insurer's promise to cover the risk of loss.
Definition of "Insurance Policy" as an agreement specifying terms of coverage and claims
This definition ties "Insurance Policy" to claims and coverage terms.
"Insurance Policy" refers to a written agreement that specifies the terms of coverage, including what risks are covered, the premium amount, the length of coverage, and the process for making claims.
Definition of "Insurance Policy" as a formalized document ensuring risk transfer
This definition connects "Insurance Policy" to risk transfer.
"Insurance Policy" means a formalized document that ensures the transfer of risk from the policyholder to the insurer, with the insurer agreeing to cover specific risks in exchange for premium payments.
Definition of "Insurance Policy" as a binding contract for protection against loss
This definition links "Insurance Policy" to legal protection.
"Insurance Policy" refers to a binding contract between the insurer and policyholder, providing legal protection and financial compensation in the event of a specified loss, damage, or liability.
Definition of "Insurance Policy" as a formal agreement outlining the insured's rights and obligations
This definition ties "Insurance Policy" to rights and obligations.
"Insurance Policy" means a formal agreement that outlines the rights and obligations of both the insured and insurer, detailing the terms of coverage, claims procedures, exclusions, and the premium payment schedule.
Definition of "Insurance Policy" as a formal agreement between insurer and insured
This definition ties "Insurance Policy" to the contractual relationship.
"Insurance Policy" refers to a formal agreement between an insurer and the insured that outlines the terms under which the insurer provides financial coverage against specific risks or losses in exchange for premium payments.
Definition of "Insurance Policy" as a legally binding document specifying coverage and exclusions
This definition connects "Insurance Policy" to coverage and exclusions.
"Insurance Policy" means a legally binding document that specifies the coverage provided, the exclusions, the premiums, and the claims process, detailing the risks and events that the insurer will compensate for.
Definition of "Insurance Policy" as a document establishing financial protection
This definition links "Insurance Policy" to financial protection.
"Insurance Policy" refers to a document that establishes the financial protection offered by the insurer, outlining the conditions under which the insured will receive compensation for covered events or risks.
Definition of "Insurance Policy" as a document detailing terms and conditions of coverage
This definition ties "Insurance Policy" to the terms and conditions.
"Insurance Policy" means a document that details the terms and conditions under which coverage is provided, including what is covered, what is excluded, the premium amount, and the duration of the coverage.
Definition of "Insurance Policy" as an agreement offering protection for specific risks
This definition connects "Insurance Policy" to specific risk protection.
"Insurance Policy" refers to an agreement that offers protection against specific risks, including but not limited to property damage, liability, or health-related issues, as detailed in the policy's clauses.
Definition of "Insurance Policy" as a contract specifying the scope of coverage and premiums
This definition links "Insurance Policy" to scope and premiums.
"Insurance Policy" means a contract that specifies the scope of coverage, including the types of loss or damage that are insured, along with the premiums to be paid by the policyholder to maintain the coverage.
Definition of "Insurance Policy" as a written contract with agreed-upon terms of insurance
This definition ties "Insurance Policy" to written contracts.
"Insurance Policy" refers to a written contract between the insured and the insurer that defines the agreed-upon terms of insurance, covering the scope of risks insured, premiums, exclusions, and claims procedures.
Definition of "Insurance Policy" as a legally enforceable agreement for risk management
This definition connects "Insurance Policy" to risk management.
"Insurance Policy" means a legally enforceable agreement between the insurer and policyholder that outlines the insurance coverage, designed to help manage financial risks and losses in the event of specific covered incidents.
Definition of "Insurance Policy" as a written agreement outlining rights, duties, and compensation
This definition ties "Insurance Policy" to rights, duties, and compensation.
"Insurance Policy" refers to a written agreement that outlines the rights and duties of both parties—the insurer and the insured—along with the compensation structure in case of covered losses or events.
Definition of "Insurance Policy" as a contract that establishes the insured's entitlement to coverage
This definition links "Insurance Policy" to entitlement.
"Insurance Policy" refers to a contract that establishes the insured's entitlement to coverage, detailing the conditions under which the insurer will provide compensation or financial protection in the event of a specified loss or damage.
Definition of "Insurance Policy" as a contract that outlines the insurer’s obligations
This definition ties "Insurance Policy" to the insurer's obligations.
"Insurance Policy" refers to a contract that outlines the obligations of the insurer to provide financial protection to the insured, specifying the types of risks covered and the insurer's responsibilities in the event of a loss.
Definition of "Insurance Policy" as an agreement outlining coverage limits and exclusions
This definition connects "Insurance Policy" to coverage limits.
"Insurance Policy" means an agreement that specifies the coverage limits, exclusions, and conditions under which the insurer will compensate the insured for damages or losses, ensuring clarity of coverage.
Definition of "Insurance Policy" as a legally binding agreement providing compensation for risks
This definition links "Insurance Policy" to legal compensation.
"Insurance Policy" refers to a legally binding agreement that ensures the insurer provides compensation or reimbursement for specific risks or losses covered under the policy, subject to the terms outlined in the agreement.
Definition of "Insurance Policy" as a written contract specifying the insured’s protection
This definition ties "Insurance Policy" to written documentation.
"Insurance Policy" means a written contract that specifies the protection provided to the insured by the insurer, including the insured risks, premium payments, and the insurer's responsibilities.
Definition of "Insurance Policy" as a document that sets forth rights and obligations of both parties
This definition connects "Insurance Policy" to rights and obligations.
"Insurance Policy" refers to a document that sets forth the rights and obligations of both the insurer and the insured, including the scope of coverage, premium payments, and conditions for making claims.
Definition of "Insurance Policy" as a contract that includes coverage details and premium structure
This definition links "Insurance Policy" to coverage and premiums.
"Insurance Policy" means a contract that includes detailed information on the coverage provided by the insurer and the premium structure, outlining the financial terms of the agreement and the risks covered.
Definition of "Insurance Policy" as a formal agreement offering protection for various risks
This definition ties "Insurance Policy" to risk protection.
"Insurance Policy" refers to a formal agreement between the insurer and the insured, offering protection against various risks, such as property damage, theft, liability, or health-related incidents, based on the terms outlined in the policy.
Definition of "Insurance Policy" as a written contract establishing the scope of insurance coverage
This definition connects "Insurance Policy" to contract terms.
"Insurance Policy" means a written contract that establishes the scope of insurance coverage, detailing the insured events, exclusions, premium amounts, and the process for filing claims.
Definition of "Insurance Policy" as an agreement designed to transfer risk from the insured to the insurer
This definition links "Insurance Policy" to risk transfer.
"Insurance Policy" refers to an agreement designed to transfer the financial risk of certain events from the insured to the insurer, with the insurer compensating the insured for covered losses according to the terms of the policy.
Definition of "Insurance Policy" as a binding contract specifying insurance terms and premiums
This definition ties "Insurance Policy" to binding terms.
"Insurance Policy" means a binding contract that specifies the terms of insurance coverage, including the insured risks, exclusions, premium amounts, and the procedures for claims and compensation.
Definition of "Insurance Policy" as a document that governs the insurance relationship
This definition connects "Insurance Policy" to the insurance relationship.
"Insurance Policy" refers to a document that governs the relationship between the insurer and the insured, outlining the terms, conditions, and coverage provided for various risks or losses.
Definition of "Insurance Policy" as a contract specifying compensation terms for insured risks
This definition ties "Insurance Policy" to compensation terms.
"Insurance Policy" means a contract that specifies the terms of compensation or reimbursement for risks or losses covered by the insurer, ensuring the insured is compensated according to agreed-upon conditions.
Definition of "Insurance Policy" as an agreement detailing the coverage scope and exclusions
This definition links "Insurance Policy" to coverage and exclusions.
"Insurance Policy" refers to an agreement that details the scope of coverage, including which risks are covered and which are excluded, providing a clear understanding of the protection offered by the insurer.
Definition of "Insurance Policy" as a binding agreement outlining risk protection services
This definition connects "Insurance Policy" to risk protection.
"Insurance Policy" refers to a binding agreement between the insurer and the insured, outlining the risk protection services provided by the insurer, including coverage for specific risks and the insurer’s responsibilities.
Definition of "Insurance Policy" as a legal agreement offering financial coverage for specified risks
This definition ties "Insurance Policy" to financial coverage.
"Insurance Policy" means a legal agreement that offers financial coverage for specified risks, such as health, property, or liability, with the insurer agreeing to compensate the insured for covered events.
Definition of "Insurance Policy" as a written agreement between insurer and insured specifying the terms of coverage
This definition links "Insurance Policy" to written terms.
"Insurance Policy" refers to a written agreement between the insurer and the insured, specifying the terms of coverage, including the premiums, the duration of coverage, and the types of risks covered.
Definition of "Insurance Policy" as a contractual document that outlines exclusions, terms, and coverage limits
This definition connects "Insurance Policy" to exclusions and coverage limits.
"Insurance Policy" means a contractual document that outlines the exclusions, terms, and coverage limits of the insurance provided, ensuring both parties are clear on what is covered and what is not.
Definition of "Insurance Policy" as an agreement that defines the insured's rights to coverage
This definition ties "Insurance Policy" to rights to coverage.
"Insurance Policy" refers to an agreement that defines the insured's rights to receive coverage from the insurer in case of specific losses or damages, subject to the terms and conditions of the policy.
Definition of "Insurance Policy" as a document outlining the insurer's obligation to provide coverage
This definition links "Insurance Policy" to the insurer’s obligation.
"Insurance Policy" refers to a document that outlines the insurer's obligation to provide coverage in exchange for the payment of premiums, specifying the types of coverage, exclusions, and claims process.
Definition of "Insurance Policy" as a formal contract specifying risk-sharing arrangements
This definition connects "Insurance Policy" to risk-sharing.
"Insurance Policy" means a formal contract that specifies the risk-sharing arrangements between the insurer and the insured, outlining how losses or damages will be handled and the terms for compensation.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.