Written agreement stating the obligations and responsibilities of each contracting party which is the basis for concluding an insurance contract and serves as proof of such a contract In particular, the insurance policy contains the particulars of the policyholder, the insured person and the beneficiary as well as details on the inception, period and term of the contract, the insurance benefits, premiums and, possibly, special terms and conditions
Any Insurance Policy for a Mortgage Loan required hereunder, including, without limitation, Mortgage Insurance, Hazard Insurance, Flood Insurance, Pool Insurance and title insurance policies, as well as any forced order coverage utilized by Servicer in lieu of these insurance policies
The printed form prepared by an insurance company to serve as the contract between the policyowner and the company The policy sets forth all conditions and terms of the agreement (See also: insurance contract )
A written document that serves as evidence of insurance coverage and contains pertinent information about the benefits, coverage and owner, as well as its associated obligations
Broadly, the entire written contract of insurance More narrowly, the basic written or printed document, as distinguished from the forms and endorsements added thereto
Document setting out full details of insurance in force A policy MAY refer to a single consignment and be sent with the other commercial documents More commonly there is an open policy for all the shipper's consignments For each consignment an insurance certificate is issued, cross-referencing the policy
A contract detailing an insurance policy and outlining what risks are insured, what insurance premiums are to be paid by the policyholder, what deductibles prevail, and all the details associated with a policy
A contract of indemnity designed to reimburse an insured party for the financial loss he/she may suffer because of loss or damage to merchandise shipped under a specific contract, unique to a particular shipment of goods
a contract between a customer and an insurance company, which will pay for particular losses or damage in return for one or more payments, known as premiums
A contract between a consumer and an insurance company It indemnifies the consumer against certain loss An HMO is in contrast with actual insurance as the consumer is not buying insurance but a subscription to the services that happen to be provided by the HMO Certain services may not be covered under any plan, but traditional insurance typically offers a broader level of overall coverage (hence a higher overall cost in monthly premium to the consumer )