Final answer:
The part of the insurance policy that details the rights and duties of the insured and the insurance company is called the policy provisions or the policy conditions.
Step-by-step explanation:
The part of the insurance policy that details the rights and duties of the insured and the insurance company is called the policy provisions or the policy conditions. These provisions are typically found in the contract or policy document and outline the obligations and responsibilities of both parties.
For example, the policy provisions may include information about premium payments, coverage limits, claims procedures, exclusions, and other terms and conditions. It is important for policyholders to carefully review and understand these provisions to ensure they are aware of their rights and obligations under the insurance policy.