Meaning of “insured” in the English Dictionary

"insured" in Business English

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uk /ɪnˈʃɔːd/ us /ɪnˈʃʊərd/

INSURANCE having insurance:

insured to do sth While the owner might be insured to drive his car, friends and relatives are not.
insured against sth You are insured against flood, irrespective of cause.
insured for sth The painting was insured for $2 million.

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the insurednoun [ C ]

uk us plural the insured

INSURANCE the person or organization that is referred to in a particular insurance agreement and that would receive payment from the insurance company if a particular event happened:

The policy covers the insured, and any driver who is driving with the authorization of the insured.

(Definition of “insured” from the Cambridge Business English Dictionary © Cambridge University Press)