MEDICAL,USA: 1. Illnesses, diseases, injuries, pregnancies, bodily defects or abnormalities, mental illnesses, alcoholism, or drug or chemical dependencies. 2. Part of an insurance policy that states the insured’s obligations and those of the insurance company in order for the policy to be in effect.
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UK: Parts of a policy that must be complied with by one party or the other. Conditions may be implied by law or expressed, i.e. set out in the policy. The effect of a breach by the insured depends upon whether it relates to a condition precedent (things to be done before the contract is concluded, e.g. utmost good faith); a condition subsequent (things to be done during the policy certain stanterm, e.g. maintainin dards); a condition precedent to liability (things to be done before the insurer is liable for a particular loss, e.g. proper notification). See WARRANTY.
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US: Provisions inserted in an insurance contract that qualify or place limitations on the insurer’s promise to perform.
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See: policy conditions.
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These are provisions of an insurance policy which state either the rights and duties of the insured or the rights and duties of the insurer. Typical condition have to do with such things as the insured’s duties in the event of loss, cancellation provisions, and the right of the insurer to inspect the property.