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What is a policy in insurance?

What is a policy in insurance?

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Aquila
s a contract between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
Aquila Bob answered the question on December 18, 2017 at 14:09

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