insured entities

Insured entities are organizations or individuals who have purchased insurance coverage to protect against potential risks or losses. When an insured entity faces a covered event—such as damage, theft, or liability—the insurance policy provides financial protection or compensation. Essentially, the insured pays regular premiums to the insurer, which in return agrees to cover specific risks listed in the policy. This arrangement helps insured entities manage uncertainty and reduce the financial impact of unexpected incidents, ensuring they can recover more quickly and maintain stability.