noun. a person or company that contracts to indemnify another in the event of loss or damage; underwriter. a person or thing that insures. a person who sells insurance.
What is an example of an insurer?
Well-known life insurers include Northwestern Mutual, Guardian, Prudential, and William Penn. Property and casualty companies insure against accidents of non-physical harm. This can include lawsuits, damage to personal assets, car crashes and more.
What is meant by insurer and insured?
Insured is the person who is covered against risk. On the other hand, the insurer is the company that is providing coverage. It is a service that an insurer provides under a particular insurance policy against a premium paid by the policyholder.
Who is called insurer in insurance?
An entity which provides insurance is known as an insurer, an insurance company, an insurance carrier or an underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured.
What is another word for insurer?
In this page you can discover 15 synonyms, antonyms, idiomatic expressions, and related words for insurer, like: insurance-company, underwriter, insurance firm, insurance underwriter, lender, policyholder, employer, insurance-policy, borrower, broker and reinsurer.
Who is insurer one sentence?
An insurer is a company that sells insurance.
Which of the following is the best description of an insurer?
An insurer is the company responsible for paying claims under a contract of insurance. An insurer provides insurance policies, while an insured is protected by those insurance policies.
What is the difference between policyholder and insured?
The policyholder controls the policy, while the insured is the person whose death prompts the death benefit payout. They are usually the same person in a life insurance policy, but can occasionally be different people.Dec 9, 2021