What section of an insurance policy outlines the insurer's promise to pay for losses?

The Insuring Agreement is the section of an insurance policy that explicitly details the insurer's promise to pay for covered losses. This portion is essential as it outlines the scope of the coverage provided, specifying the risks that are insured against and the obligations of the insurer in the event of a loss. Essentially, it sets the foundation of the insurance contract, clearly stating what is included in the coverage.

In contrast, the Declarations section typically contains key information about the policy, such as the insured's name, policy number, coverage limits, and premium amounts, but does not articulate the insurer's responsibilities regarding losses. The Conditions section outlines the terms and requirements that both the insurer and the insured must adhere to throughout the term of the policy, such as the duty to report losses or claim procedures. Exclusions detail what is not covered by the policy, specifying particular circumstances or types of damage that the insurer will not pay for. Each of these sections serves a different purpose within the policy but does not directly state the promise to pay for losses as the Insuring Agreement does.