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Casualty Insurance
Insurance coverage against loss or damage to property or individuals due to an accident, theft, or other unforeseen events.
Insurance Contract
A legally binding agreement between an insurer and an insured, in which the insurer agrees to compensate for specific losses in exchange for a premium.
Breach of Contract
occurs when a party fails to fulfill their obligations under a contract, either by not performing as promised, by interfering with another party's performance, or by repudiating the contract altogether.
Incontestability Clause
A provision in insurance policies that prevents the insurer from disputing the policy's validity after it has been in force for a specific period, usually two years, except under certain circumstances.
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