Final answer:
Group insurance is the type of insurance contract that identifies individuals by their relationship to a specific organization, typically provided by employers to cover employees and often their families.
Step-by-step explanation:
An insurance contract that identifies individuals by their relationship to a specific organization is known as Group insurance. This type of insurance policy is commonly provided by an employer and extends to cover not only the employees but often their families as well. Group insurance is characteristically provided through an employer, allowing a mix of individuals with varying degrees of health risks to be covered under one policy, which is beneficial for the insurance provider in managing risk. It is different from direct-purchase insurance, which individuals buy directly from a private company. It is also distinct from Employer insurance, which can refer to any insurance an employer may provide, not necessarily in a group context, and from COBRA plans, which offer extended insurance coverage after employment ends.