First Presented at the CBA-OBA Professional Development
Program: Fast Out of the Gate: An Insurance Law Primer
Generally, an insurance policy will contain the following key
information:
- An introduction or general statement regarding the purpose of
the policy, the type of policy and what the policy is intended to
cover
- Definitions of key terms cited throughout the policy
document
- Details of what is covered
- Details of what is excluded from coverage
- When and how the policy may be cancelled
- Declarations containing the amount(s) of coverage and any
deductibles that may apply
Exclusions
'Exclusions' are specific situations or instances where
an insurance company will not provide coverage. For instance,
residential policies, i.e. that cover damage by fire, water, tree
falling on the house, and so much more, are fairly standard but
there are nuances when it comes to what is insured, what is
excluded and what is required from the insurer and the
