Insurance generally refers to a legally enforceable contract—known as an insurance policy—in which an insurance company (the insurer) agrees to (1) defend the person or entity who purchased the policy (the insured) against future claims or lawsuits; and (2) pay for losses (usually financial) that are covered under the written terms of the insurance policy.

These two primary legal obligations of an insurer under a liability insurance policy are known as the duty to defend and the duty to indemnify.

Insurance may be purchased to cover a wide range of future claims or losses—ranging from health insurance to pay future medical expenses, to commercial general liability (CGL) to cover future claims and losses incurred by a business.

In Oklahoma, insurance is regulated by the Oklahoma Insurance Department, which enforces the state's insurance laws and regulations. The duty to defend and the duty to indemnify are fundamental aspects of liability insurance policies in Oklahoma. The duty to defend obligates the insurer to provide legal defense for the insured against claims or lawsuits that fall within the scope of the policy coverage, while the duty to indemnify requires the insurer to pay for any covered losses or damages up to the policy limits. Insurance policies in Oklahoma can cover various risks, including health, life, property, and liability. Insurers must adhere to state statutes and regulations, which dictate the terms of insurance contracts, the licensing of insurers and agents, and the procedures for handling claims and disputes. It's important for policyholders to understand the specific terms and conditions of their insurance policies, as these will determine the extent of coverage and the insurer's obligations. Individuals with specific concerns or disputes regarding insurance policies may benefit from consulting with an attorney who specializes in insurance law.