Essential Components of All Primary Insurance Policies


Summary

This practice note addresses the essential components of all primary insurance policies. This practice note does not delve into specific types of insurance, how they operate, what they cover, and disputes that can arise under them. Rather, it explains the elements of all primary insurance policies regardless of the risks they are designed to cover. As such, it will refresh attorneys who either routinely or intermittently practice insurance law on the basics. It can also be used as an educational tool for new attorneys or as a resource from which you can draw authoritative information to use during your client representation. From an insurer's perspective or that of an insurance intermediary, it can be used to train or solidify employees' and intermediaries' grounding in basic principles. The practice note will address the components of insurance policies and the processes involved in creating the components because the two are inextricably intertwined.