In insurance terminology, what do conditions outline?

Conditions in insurance terminology refer to the specific rules and stipulations that govern a policy. They define the contractual obligations of both the insurer and the insured, detailing what each party must do for the contract to remain valid. Conditions might include requirements such as timely premium payments, procedures for filing claims, and the responsibilities the insured has in case of a loss, among others.

Understanding conditions is crucial because they help ensure that the insured adheres to the terms agreed upon, which can impact the outcome of a claim or the validity of the policy. This makes it clear that option B accurately captures the essence of what conditions encompass in the context of an insurance policy.