Insured

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Related to Insured: Named Insured, self insured

Insured

The person who obtains or is otherwise covered by insurance on his or her health, life, or property. The insured in a policy is not limited to the insured named in the policy but applies to anyone who is insured under the policy.

insured

n. 1) the person or entity who will be compensated for loss by an insurer under the terms of a contract called an insurance policy. 2) the person whose life is insured by life insurance, after whose death the benefits go to others. (See: insurance)

See: agreed, definite, fully secured, official, safe, secure

INSURED, contracts. The person who procures an insurance on his property.
2. It is the duty of the insured to pay the premium, and to represent fully and fairly all the circumstances relating to the subject-matter of the insurance, which may influence the determination of the underwriters in undertaking the risk, or estimating the premium. A concealment of such facts amounts to a fraud, which avoids the contract. 1 Marsh. Ins. 464; Park, Ins. h. t.

References in periodicals archive ?

Does the insured have to be hospitalized before he or she can collect LTC benefits?

Financial planning for the risk of long life; how to cope with the rising cost of getting old

Coverage was barred if either the insured "expected or intended" the injury or the insured's acts were "willful and malicious.

He didn't mean to do it: intent is an issue that must be considered in coverage of claims in many contexts

101 (g) (1); the person must be licensed for such purposes in the state in which the insured resides.

Tax-free viatical settlements - a lifesaver for the seriously ill

The loss runs, generally issued on a quarterly basis, list claims that have occurred at the insured during the quarter.

Reducing workers' compensation costs

18 billion in insured losses made it the most significant storm to hit the Eastern seaboard since Hurricane Floyd in 1999, which caused $1.

Small cats total big losses in 2003

Because the noninsured and the insured shareholders were also partners in a partnership, the Service ruled that an exception to the transfer-for-value rule applied; therefore, the insurance proceeds were exempt from income tax.

Transfer-for-value rule

The IRS first addressed whether the exercise of the option to change the insured constituted a sale or disposition under Sec.

Life insurance policy exchanges

It is unwise to afford lower limits than the insured needs.

Built to Suit

The term uninsurable risk is really a misnomer, since most risks can be insured in some manner if the insured is willing to pay the price.

Pickup Trucks and Captives

The court further held that for purposes of the duty to defend, the insured need not show that it used the plaintiffs advertising ideas directly in written sales materials.

A Duty to Defend

reinsurer's share of a claim to an insured in Libya was physically in the United States.

Political Barriers

The second-most costly catastrophe last year was Typhoon Bart, which caused $2 billion in insured losses when it hit Japan in September.