insurance contracts
Risk transfer documents
Insurance contracts are agreements where one party (the insurer) promises to compensate another (the insured) for specified losses in exchange for premium payments.
They govern coverage for risks like property damage, liability, health expenses, or death.
Unlike most contracts, insurance contracts are contracts of adhesion—drafted entirely by the insurer, with the policyholder accepting standard terms.
Courts often interpret ambiguities in favor of the insured.
- deductibleOut-of-pocket threshold amount
- coverageExtent of inclusion
- premiumAdded cost for better
- grace periodAllowed delay before consequences
- policyholderOwner of insurance contract
subrogation · indemnity · double indemnity · beneficiary · good faith · claim · actuary · Lloyd's of London · risk · insurable interest · act of God · moral hazard · adjuster · endorsements · underwriter · policies · third party · claims processing
- international insurancecross-border disputes, liability coverage
- auto insurancecollision coverage, liability coverage, comprehensive coverage, theft protection, premium
- contractscontract length, lease, clause, contract terms, work contract
- insurancecoverage, underwriting, premium, claims, policyholder
- incentive theorymoral hazard, adverse selection, principal-agent, signaling, screening
- trade lawtrade law, trade regulations, trade laws, trade treaties, commercial law
insurance contractswarranties
Written repair commitments
guarantees · service contracts · maintenance agreements · extended warranties
assured, insurance, assurance, insured, contracts, reassurance, assuring, insurer, insuring