What does the term 'insuring clause' refer to?

The term 'insuring clause' refers specifically to a promise made by the insurer to pay for certain losses covered by the insurance policy. This clause outlines the insurer's obligation and typically includes a general description of the types of losses that are covered under the policy, as well as the conditions that apply. It sets the foundation for the insurance contract by clearly stating what risks or situations are protected, which is critical for policyholders to understand their coverage.

In contrast, the other options address different components of an insurance policy. For instance, a clause about policy rejection specifically deals with why certain claims may not be accepted, rather than the insurer's commitment. A section that defines coverage limits provides information on the maximum amounts that can be claimed, focusing on the boundaries of coverage rather than the promise itself. A summary of exclusions details what is not covered under the policy, which is essential for fully understanding the extent of the coverage but does not encapsulate the insuring promise. Thus, the insuring clause is fundamentally about the insurer's promise to cover specified risks.