Final answer:
The insuring clause in a policy dictates the parameters to pay claims in the event of a loss, outlining coverage scope, covered perils, and claim payout circumstances.
Step-by-step explanation:
The clause in a policy that contains information on the parameters to pay claims in the event of a loss is called the insuring clause. This clause outlines the scope of coverage provided by the insurance company, including what perils are covered and under what circumstances the insurance provider will pay out a claim. It is the core part of the insurance contract and specifies the risks that are covered, the insured parties, the limits of the insurance company's liability, and how losses will be adjusted.
Answer: a) Insuring clause