Who is insurer answer in one sentence?
Asked by: Toy Hyatt | Last update: May 24, 2023Score: 4.1/5 (33 votes)
An “insurer” refers to the company providing you with financial coverage in the case of unexpected, bad events covered on your renters insurance or homeowners policy.
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.
Who is insurer one sentence?
An insurer is a company that sells insurance.
Who is insurer in policy?
The insurer is defined as the company that issues insurance policies, handles claims, and sells policies. Moreover, the insurer is responsible in providing financial coverage to their customer in the form of sum assured in case of occurrence of the event (stated in the policy).
Who is insurer and proposer?
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. The rights of ownership of policy lie with the proposer and he is liable to pay premiums.
Full Sentence Answers Lesson
Who is a proposer?
/prəˈpoʊ.zɚ/ a person who suggests a subject for discussion: The proposer of the motion tonight is Jonathan Hesk. a person who suggests someone for a position or as a member of an organization.
What does insured name mean?
Named Insured — any person, firm, or organization, or any of its members specifically designated by name as an insured(s) in an insurance policy, as distinguished from others that, although unnamed, fall within the policy definition of an "insured."
Who are the insurers?
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.
Who is an insured class 11?
The insured may be cargo owner or ship owner or fright receiver. 10. Communication Services Communication refers to exchange of ideas, views or message between two or more persons. According to William H Newman, “Communication is an exchange of facts ideas, opinion or emotions by two or more persons”.
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.
What is insurance one word?
1a : coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril. b : the business of insuring persons or property. c : the sum for which something is insured.
What do insurers do?
When you buy an insurance policy, your insurer promises it will pay you for the type of loss stipulated in the policy – such as an accident, theft, loss or catastrophe – by funding repairs or replacement of items, up to the limit of your policy, or sometimes by providing a cash settlement.
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.
What is insurance class 9?
Insurance is a contract under which the insurer undertakes the responsibility to indemnify the insured against any damage for which it has taken insurance. The insured needs to pay a certain amount of premium to the insurer to avail insurance. Insurance is a contract of indemnity and also is based on utmost faith.
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 insured class 11 business studies?
Insurance is a contract under which one party (Insureror Insurance Company) agrees in return of a consideration (Insurance premium) to pay an agreed sum of money to another party (Insured) to make good for a loss, damage or injury to something of value in which the insured has financial interest as a result of some ...
What is insured signature?
Response 1: The signature on the certificate of insurance is that of an authorized representative of the insurer, which means your question is better directed to the insurer.
What is a joint insured?
Joint Insurance — life insurance written covering two or more lives with benefits payable when the first of the covered persons dies. This type of policy is most frequently used for key person insurance to allow a surviving partner to purchase a deceased partner's share of the business.
What is an insured entity?
Insurance entity means any Entity, including any insurance company, broker, or guaranty association, that has issued, or that has or had actual or potential liability, duties or obligations under or with respect to any Insurance Policy or any agreements or settlements relating to any Insurance Policy. Sample 1.
Who is proposer in contract?
Proposer means a contractor that submits a response to a request for proposal, request for bid, or request for quotation. Proposer means an entity that submits a Proposal in response to a Request for Proposal.
Is proposer a word?
proposer | Business English
a person who suggests someone's name for a position or as a member of an organization: The candidate can be proposed by one proposer and two seconders.
What is proposer detail?
The proposer is a person who proposes to enter an insurance policy contract with a insurance company, to insure himself or another person on whose life he has insurable interest, and who also pays the premium of the policy.
What is how insurance?
HOW Insurance is a statutory scheme of insurance which indemnified beneficiaries for loss and damage caused by a builder or developer breaching the statutory warranties contained in Part 2C of the Home Building Act, 1989.
What is life insurance mean?
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.
What is insurance give example?
The definition of insurance is protection against something going wrong. When you pay premiums in exchange for a policy that pays out when you crash your car in a car accident, this is an example of an auto insurance policy.