Party possibly insured in part! (5)
I believe the answer is:
third
This clue might be a double definition.
'party' is the first definition.
(thesaurus)
'insured in part' is the second definition.
'third' can be an answer for 'part' (fraction). I am not certain of the 'insured in' bit.
'possibly' is the link.
Can you help me to learn more?
(Other definitions for third that I've seen before include "Bronze medal place" , "Bronze prize position" , "One of three equal parts" , "Eroica, Beethoven's - symphony" , "Tertiary" .)