20111320-1113. Contents of policy
A. The written instrument in which a contract of insurance is set forth is the policy.
B. Every policy shall specify:
1. The names of the parties to the contract.
2. The insurer's name.
3. The subject of the insurance.
4. The risks insured against.
5. The time when the insurance thereunder takes effect and the period during which the insurance is to continue.
6. The premium.
7. The conditions pertaining to the insurance.
C. If under the policy the exact amount of premium is determinable only at stated intervals or termination of the contract, a statement of the basis and rates upon which the premium is to be determined and paid shall be included.
D. The provisions of subsections A, B and C shall not apply to surety contracts, or to group insurance policies.
E. A policy may contain additional provisions not inconsistent with this title and which are:
1. Required to be inserted by the laws of the insurer's domicile.
2. Necessary, on account of the manner in which the insurer is constituted or operated, in order to state the rights and obligations of the parties to the contract.
3. Desired by the insurer and neither prohibited by law nor in conflict with any provisions required to be included therein. 201113