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.
Insuring Agreement. In consideration of the application for insurance and payment. of the appropriate premium, and subject to the terms, conditions, limitations, exclusions and other provisions of. this policy, we will pay the reasonable and customary costs for. eligible expenses incurred during the period of coverage while.