Defintion & Duties of the Insured

Question 1

Insured

Answer 1

Anyone who is covered under the insurance policy, whether named or not

Question 2

Named Insured

Answer 2

Individual(s) whose name appears on the policy’s declarations page.

Question 3

First Named Insured

Answer 3

Individual whose name appears first in the policy Declarations

Question 4

Additional Insureds

Answer 4

Businesses or individiuals that are not named as insureds on the declarations page, but are protected by the policy.

Question 5

Duties of the Named Insured in the event of a loss

Answer 5

1. Protect the damaged property from further damage
2. Prepare an inventory of damaged property
3. Cooperate with the insurer in settling the loss
4. Notify the police in the case of a theft loss
5. Submit to the insurer a signed sworn proof of loss after being requested to do so within a certain time.

Question 6

**In Commercial insurance policies, the first named insured has control of the policy and is the only insured who can request changes to the policy.