What is the difference between a policyholder and an insured?

A policyholder is the person who owns an insurance policy, and the insured is the person or entity covered by the policy. In New York, the Insurance Regulation Law is designed to protect policyholders and insureds. A policyholder is responsible for all aspects of the insurance policy, including paying the premiums on time, managing and filing any claims, and following the terms of the policy. It is the policyholder’s responsibility to ensure that the coverage provided is adequate and that the policy fits the needs of the insured. An insured is the person or entity who is protected by the insurance policy. An insured can be an individual, organization, or business that is covered by the terms of the policy. The insured can make claims against the policy for any losses sustained due to insured events. The Insurance Regulation Law in New York is designed to ensure that policyholders and insureds receive fair and reasonable coverage for all risks and losses. In summary, the policyholder is the person who owns the insurance policy and the insured is the person or entity covered by the policy. The Insurance Regulation Law in New York is designed to protect both the policyholder and the insured.

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What is the difference between a policyholder and an insured?

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