Which section of an insurance contract contains the provisions, rules of conduct, duties, and obligations of the parties?

The correct answer focuses on the Conditions section of an insurance contract, which is crucial in defining the rights and responsibilities of both the insurer and the insured. This section outlines the operational aspects of the policy, detailing what is required for coverage to be valid. It includes important information such as the duties of the insured when a loss occurs, the insurer's obligation to pay valid claims, and any necessary procedures that must be followed during the claims process.

By specifying the conditions under which coverage is provided or denied, this section helps to clarify expectations for both parties. For instance, it may include requirements for timely notice of a claim, cooperation with the insurer during an investigation, and other conduct that can affect the enforceability of the policy.

In contrast, the other sections mentioned serve different purposes. The Insuring Agreement delineates the coverage provided, the Exclusions specify what is not covered under the policy, and the Limitations might outline restrictions on coverage amounts or the duration of coverage. Each of these sections contributes a vital part to the insurance policy as a whole, but it is the Conditions that explicitly address the duties and obligations inherent in the contractual agreement.