The Policy Schedule specifies the particular terms that apply to the insured risk, including the insured's name, policy period, limit of liability, applicable sub-limits, excesses/deductibles, retroactive dates (if applicable), and any special conditions, endorsements, or warranties. The schedule forms part of the insurance contract and must be read together with the policy wording, with the schedule typically taking precedence where there is any inconsistency between the two documents. Details in the schedule customise the standard policy wording to reflect the negotiated terms, risk characteristics, and premium for the individual insured, and any changes to coverage during the policy period are documented through updated schedules or endorsements.
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