Name of Insured is a term used in the insurance industry to refer to the individual or entity that has an insurance policy in their name. The name of insured is listed on the policy documents as the party that has the legal right to make claims for losses covered by the policy.
Name of Insured in More Detail
In general, the name of insured is the primary person or entity that has the responsibility for the payment of premiums and any other contractual obligations associated with the policy. This primary party may be a natural person, a business, or an organization, but in all cases, they are the one that is named as the insured on the policy.
In some cases, the name of insured may refer to an additional insured or a named insured. An additional insured is someone else who is added to the policy, usually by endorsement, and who has the same rights to coverage as the primary insured. A named insured is someone else who has been specifically named as the insured on the policy, even if they are not the primary insured.
Overall, the name of insured is an important term in the insurance industry that refers to the primary insured on a policy. It is the individual or entity that has the legal right to make claims for losses covered by the policy, as well as the responsibility for the payment of premiums and any other contractual obligations associated with the policy.
