The Body of An Insurance Policy
The body of the policy may come in one or more pre-printed parts packaged together with the declarations page to make a complete contract of insurance. The basic format, once it is established, is repeated for each type of liability insurance written. It is only logical to repeat what works. It is more efficient to use standardized forms and format. If every policy were unique it would be impossible to train underwriting and claims personnel. The insurer would be required to limit the number of insureds and the number of risks it accepted, which would defeat the risk spreading purpose of insurance.
The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library.
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