Insureds: Who, When and Why

Description

Before any claim is paid, status as an 'insured' must exist. Is the person or entity suffering or causing loss, injury or damage an insured? If the answer is 'no' there is no need to go any further. If 'insured' status does not exist, neither does coverage. 

Within various property and casualty insurance policies, there are up to four 'levels' or types of insureds. When developing an insurance program for any insured, it is of utmost importance that all persons and entities granted status as an insured be thorough understood. Why? Because sometimes an endorsement might be necessary to extend coverage to someone outside the list of those who are already insured.