The person in whose name the policyLegally binding contract effecting insurance or certificates thereof, including all clauses, riders, endorsements and renewals. More is issued (see InsuredThe entity (individual or otherwise) whose risk of financial loss from an insured peril is protected by the insurance policy. More or Policyholder). Technically, he or she would be the first party to the contract, the second party being the insurance company that issues the policyLegally binding contract effecting insurance or certificates thereof, including all clauses, riders, endorsements and renewals. More.