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 policy is a complex legal instrument. It is considered to be a contract between the insurance company and the insured party. As a contract, there are specific rights and obligations of the parties which are governed by the terms of the contract and applicable law. In the investigation of an arson-for-profit, the terms of the contract of insurance take on particular significance.