Insured

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Related to insureds: Additional Insured

Insured

The property or persons covered by an insurance policy.

Insured

Describing a person or organization with an insurance policy of any kind.
References in periodicals archive ?
Answer: Most likely, the agent thinks all the children should be listed as named insureds because they are all on the deed as owners of the property.
What the insurers fail to understand is that the policy applies separately to each insured against whom a claim is made or suit is brought (the separation of insureds clause).
An individual, you and your spouse are insureds, but only with respect to the conduct of a business of which you are the sole owner.
Distinguish between named insureds and other insureds in the CGL form
Best Practices Tips: Companies that intend to rely on the insurance of a contracting party must: (a) develop minimum limit requirements that evaluate a realistic loss scenario; and (b) ask not only for the certificate of insurance but also obtain representations regarding: (i) the number of other additional insureds that may have access to the subject policy; and (ii) the level of limit erosion, if any, for the insurance policy that is being offered.
Employees or officers of a corporation can become insureds because they are fairly well known risk factors to an insurer through the use of driving records and company fact sheets.
Named Insureds on insurance policies can be persons, partnerships, corporations, unincorporated associations, or limited liability companies to whom the insurance policy is issued.
With second-to-die life insurance, the transfer problem is significantly reduced; both insureds must die within three years of the transfer, with the spouse of the controlling shareholder dying first, if the proceeds are to be included in the controlling shareholder's estate.
Additional insureds also enjoy a better loss experience on their own policies, which translates to lower insurance costs.
The appellate court noted that copayments were a method by which insurers allocated to insureds a financial incentive to moderate their demands for medical services and hold down the overall cost of medical care.