What are the main parts of an insurance contract and what are they designed to accomplish?

How are insurance contracts interpreted by the courts and regulatory bodies?In a dispute over coverage who has the burden of proof?

What is subrogation as it relates to insurance?

Consider a situation where a professional misrepresents information when acquiring an insurance policy and a third party is injured. What might happen if a claim is made against the insurance company that issued the policy based on fraudulent information? Will the insurance company be liable?