The conditions part of an insurance policy includes the limits of liability.
Insurance companies provide insurances to life and property of people. An insurance policy is a contract between the company and the person to be insured. There are four important parts of an insurance policy:
Insuring agreement contains the summary of the policy that includes the provisions of the insurance company to the insurer when needed.
Conditions part includes the limits of the liabilities of the insurer to the insurance company
Exclusions includes the instances when the coverage will be taken away.
Declarations part includes the identities of the insurance comapny and the insurer.
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