(i) Party to an Insurance contract who promises to pay losses or render service. (ii) A body or person authorized to sell Insurance. It is desirable to use the word “insurer” in preference to “carrier” or “company” since it is a functional word applicable without ambiguity to all types of individuals or organizations performing the insurance functions. The word insurer is generally used in statutory law.
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MEDICAL,USA: 1. See insurance carrier . 2. See fiscal agent . 3. See fiscal intermediary . Also known as carrier, contractor, indirect payer, insurance company, or payer .
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A provider of insurance. If the insurance is underwritten at Lloyd’s the insurer(s) will be the members of one or more syndicates. If the insurance is not underwritten at Lloyd’s the insurer(s) will be one or more insurance companies. Some insurances may be underwritten by syndicates and insurance companies.
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Also known as the carrier or company. In an insurance contract, the entity that agrees to indemnify the losses of the insured.
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The insurance company that undertakes to indemnify for losses and perform other insurance-related operations.
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The insurance company.
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US: The party to the insurance contract who promises to pay losses or benefits. Also, any corporation engaged primarily in the business of furnishing insurance to the public.
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UK: The term used by the FSA to describe a product provider in relation to non-investment insurance contracts. When the term insurer is used, it does not relate to the activity the insurer conducts as an intermediary.