Where can the obligations and duties of both the insurer and the insured be found?

The obligations and duties of both the insurer and the insured are primarily outlined within the insurance policy document. This document serves as a legal contract between the two parties and specifies the terms and conditions of the coverage provided. In the policy, you will find detailed information regarding what is expected from the insurer, such as providing financial protection and processing claims, as well as what is expected from the insured, such as paying premiums and disclosing accurate information.

While state insurance regulations provide overarching rules and guidelines that govern how insurance is conducted within a state, they do not detail the specific obligations agreed to in each individual policy. An agent's handbook typically contains guidance and best practices for agents, but it does not encompass individual policy obligations between the insurer and insured. Similarly, the insured’s application form is primarily a tool for collecting information to underwrite the policy, and while it may have certain terms, it does not define the contractual obligations of the parties as clearly as the policy document does.