WinsurTech Blog | Insurance Concepts and Practical Solutions

Personal injury protection (PIP), also known as “no-fault insurance” in US (applicable to no-fault states)  is a component of an automobile insurance plan that covers the medical expenses of the insured and passengers associated with a car accident. PIP covers medical expenses for both injured policyholders and passengers, even if some don’t have health insurance. PIP is mandatory in no-fault states. In those states where it is not mandatory, insurer will not pay for the medical expenses of the insured and passengers, so in such a case a separate accident policy can be taken by the […]

Insured is a person whose interests are protected by an insurance policy, means he/she is the person who has got the insurance done for his/her interests (interests means the life or assets for which the insurance is purchased). An alternative but similar wording is – a person who contracts for an insurance policy that indemnifies him against loss of property or life or health

The name of “named insured” is mentioned there in the policy as an insured. A Named Insured is any person, firm, or organization, or any of its members specifically designated by name as an insured(s) in an insurance policy. This is different from others who are insured but their name is not mentioned in the policy (like sometimes “child” is also insured but the name of the child is not mentioned, so in this case the child is not named insured […]