Exclusions clause in insurance policies

[IndiaInsurance]

An insurance contract promises to pay the sum assured in return for a premium paid if an insured event takes place during the term of the contract. But to limit losses and to discourage anti-selection, insurance companies also make it clear that there will be some 'exclusions' to the cover offered. Exclusions are thus conditions that are not covered by the insurance company.

More... (http://economictimes.indiatimes.com/personal-finance/insurance/analysis/exclusions-clause-in-insurance-policies/articleshow/9291026.cms)