What is another word for insurer?
Asked by: Marianne Herman | Last update: September 23, 2022Score: 4.6/5 (29 votes)
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.
What is insurer in simple words?
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.
Who is called insurer?
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 insurance company?
Insurance-company synonyms
In this page you can discover 4 synonyms, antonyms, idiomatic expressions, and related words for insurance-company, like: insurance firm, insurer, underwriter and insurance underwriter.
What is the opposite of insurer?
neglect. Noun. ▲ Opposite of the act of protecting.
INSURER meaning in English | Whats the Meaning of INSURER Definition, Synonyms and use
What is an insurance contract called?
An insurance policy is a legal contract between the insurance company (the insurer) and the person(s), business, or entity being insured (the insured).
What does an insurer do?
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 role of an insurer?
An insurer generally has the duty to defend or pay the legal expenses of an insured who is subject to a legal action for the covered risk.
Who is insurer or 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.
Which of the following is another term for an authorized insurer?
An authorized insurer is an individual or company that meets a state insurance department's standard and is authorized by the responsible authority to do business in the given state, also known as an admitted insurer.
What are the rights of insurer?
The insurer has the right to make payment to the insured relating to any claim to a series of a claim falling under this policy. After which the insurer can relinquish its conduct and control of the defence of the claim and should not be held liable for anything in connection with such claims.
What are the two primary duties of an insurer?
The duties to defend and indemnify are two primary obligations owed by a liability insurer after a policyholder makes a claim. These obligations arise from and will be controlled by the insurance contract (the policy) at issue.
What are the 4 types of insurance?
- Home Insurance. As the home is a valuable possession, it is important to secure your home with a proper home insurance policy. ...
- Motor Insurance. Motor insurance provides coverage for your vehicle against damage, accidents, vandalism, theft, etc. ...
- Travel Insurance. ...
- Health Insurance.
Is an insurer for the insurance company?
The insurer is the company that provides you with financial coverage in case of specific, unfortunate events listed in your insurance policy. An insurer can be an insurance company as well as an underwriter.
What is short life insurance?
Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period.
Who is insured in insurance policy?
2) The insured is the person whose life is being covered against the risk under the policy. 3) The insurer is the insurance company that provides the insurance cover. 4) The proposer is the person who takes the cover and is also called the policyholder.
What are the 3 main types of insurance?
Then we examine in greater detail the three most important types of insurance: property, liability, and life.
Is insurance a contract?
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay.
Why is insurance needed?
Need for Insurance
Insurance plans will help you pay for medical emergencies, hospitalisation, contraction of any illnesses and treatment, and medical care required in the future. The financial loss to the family due to the unfortunate death of the sole earner can be covered by insurance plans.
What is a reinsurance policy?
What Is Reinsurance? Reinsurance is also known as insurance for insurers or stop-loss insurance. Reinsurance is the practice whereby insurers transfer portions of their risk portfolios to other parties by some form of agreement to reduce the likelihood of paying a large obligation resulting from an insurance claim.
What is a foreign insurer?
Foreign Insurer — from the U.S. perspective, an insurer domiciled in the United States but outside the state in which the insurance is to be written. In effect, it is a domestic insurer doing business outside of the state in which it is domiciled.
What is an unauthorized insurer?
Unauthorized Insurer — an insurer not licensed to write business in a particular state.
Which of the following best describes an insurance agent?
Which of the following best describes an insurance agent? One who is appointed by an insurer, transacts other than life Insurance, receives either a brokers fee or a commission, and transacts on behalf of the insurer.
Is policyholder and insured the same?
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.