Common Policy Declarations

Posted in Finance, Accounting and Economics Terms, Total Reads: 278
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Definition: Common Policy Declarations

It is a section that defines the policy. It is located in a separate section of a property or casualty insurance policy.


It contains all the detailed information about the policy. The information contained is name of the insured, coverage amount, description and details of the items insured.

 

Example: 

They are the part of every insurance contract. They contain the basic information of the contract like the name of the insured, the date of start as well as the end date of the contract.

 



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