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.
The insured is the person or entity who is covered by the insurance policy. The insurer is the entity (insurance company)that pays to, or on behalf, of the insured for a cover â¦ ed loss.That which is covered by the policy is set forth in the insurance policy.he insurer is the entity (insurance company)that pays to, or on behalf, of the insured for a cover â¦ ed loss. That which is covered by the policy is set forth in the insurance policy.