Contract certainty

{
  "id": "MLC-T-INS-000944",
  "term": "Contract certainty",
  "field": "Insurance and risk management",
  "definition": "The state where all terms and conditions of an insurance contract are agreed upon and understood by both the insurer and the insured before the policy inception. This includes the premium, coverage limits, deductibles, and any specific exclusions or endorsements. Achieving this reduces disputes and delays in claims processing, fostering trust between parties.",
  "url": "https://mlchart.com/terminology/insurance/contract-certainty/"
}