exali Glossary
Your encyclopedia of technical terms used in the insurance industry
The insurance industry is full of technical terms—from insurance policies and obligations to recourse claims. To help you keep track of everything, the exali glossary explains the main insurance terms in a simple, understandable, and practical way.
In the exali glossary, you will find not only definitions, but also practical examples, legal information, and references to the appropriate insurance coverage. This way, you always know where the risks lie—and how to protect yourself against them.
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Insurance Policy
The insurance policy is the official document that confirms the conclusion of an insurance contract. It contains all essential information about the insurance—e.g., the start and end dates of the insurance coverage, the insured benefits, the agreed premiums, and any special agreements or additional modules. Colloquially, the policy is often referred to as an insurance contract or proof of insurance.
At exali, customers receive their policy immediately after taking out their professional liability insurance online – without any waiting time or paperwork.
Contents of an insurance policy
Typically, an insurance policy includes the following elements:
- Details of the policyholder and insured activity
- Start date and term of the insurance
- Insured risks and scope of benefits
- Deductible (if agreed)
- Premium amount and payment method
- Information on notice periods and renewal
Depending on the type of insurance, special additional modules may also be included – for example, data protection & cyber first-party coverage or contractual penalty coverage.
Digital policy at exali
As a digital insurance provider, exali makes the insurance policy available as a PDF immediately after the contract is concluded. The document not only serves as proof for third parties—for example, when awarding projects—but also contains the insurance seal, which customers can embed on their website to demonstrate professionalism and security.
Term: Insurance Policy
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