|insurance policy sample contract||1.6||1||2489||64|
There are two types of insurance contract : CONTRACT OF INDEMNITY:Except the life insurance contract ,all other types of insurance contracts are contracts of indemnity.These contracts are fire insurance , marine insurance , theft insurance , etc.What is policy contract?
contract | policy |. is that contract is an agreement between two or more parties, to perform a specific job or work order, often temporary or of fixed duration and usually governed by a written agreement while policy is (obsolete) the art of governance; political science or policy can be a contract of insurance.What is the meaning of an insurance contract?
In an insurance contract, one party, theinsured, pays a specified amount of money, called a premium, to another party, the insurer. The insurer, in turn, agrees to compensate the insured for specific future losses. The losses covered are listed in the contract, and the contract is called a policy.