Definition of "Policy structure"

Mervin Barnes real estate agent
Mervin Barnes, Real Estate Agent Maximum One Executive Realtors

General arrangement of a contract between an insurer and an insured. The policy defines the insured and the type of coverage, lays out what the insurer must do, lists exceptions and limitations, and states the conditions for coverage. In a standard property and liability contract, the provisions are grouped into these four categories: DECLARATION, INSURING AGREEMENT, EXCLUSIONS, and CONDITIONS FOR QUALIFICATION.

 

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