What does Valid Contract mean? Read on to discover the definition & meaning of the term Valid Contract - to help you better understand the language used in insurance policies.
A valid contract, in the context of insurance, refers to a legally enforceable contract made between insurers and policyholders as well as between insurers and reinsurers. It involves the transfer of risk for a premium payment.
We hope the you have a better understanding of the meaning of Valid Contract.