What is typically required to form a valid insurance contract?

To form a valid insurance contract, there must be offer and acceptance. This means that one party (the insurer) makes an offer to provide insurance coverage, and the other party (the insured) accepts that offer, typically by agreeing to the terms and conditions outlined in the insurer's proposal. This mutual agreement is essential for a contract to be valid.

Considering other options, a written policy, while common, is not strictly necessary for an insurance contract to exist; a verbal agreement can also form a contract as long as there is offer and acceptance. A premium payment is also a crucial element of the contract, as it signifies acceptance and consideration, but on its own, it doesn't establish a contract without the initial offer. Lastly, requiring a signature from an attorney is not standard practice for forming an insurance contract; such a signature is generally unnecessary unless specified by law or for specific policy types. Thus, the essence of forming a valid insurance contract lies in the clear offer and acceptance between the parties involved.