Which document outlines the cover provided, including conditions and exclusions?

The policy wording is the comprehensive document that outlines the details of the insurance coverage, including the specific conditions and exclusions that apply. It serves as the legal contract between the insurer and the insured, detailing the scope of coverage and any limitations that could affect claims.

In the context of insurance, the policy wording includes definitions, obligations of both parties, and specific terms on what is covered or excluded. This clarity is essential for policyholders to understand the extent of their insurance and what to expect in terms of claims processing.

While the policy schedule summarises the essential details of the coverage, such as the insured parties, policy number, and coverage amounts, it does not delve into the elaborate terms, conditions, and exclusions like the policy wording does. Similarly, the term 'pool' generally refers to a group of insurers that share a risk, and 'renewal' pertains to the process of extending a policy's coverage for another term, neither of which directly relates to outlining coverage specifics.