Insurer

An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual.

An insurer is frequently an insurance company and is also known as an underwriter.

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insurer n. an insurance company which agrees to pay someone who pays them for insurance for losses suffered pursuant to the terms of an insurance policy. For this benefit the customer pays the company a fee, called a premium. (See: insurance)

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INSURER, contracts. One who has obliged himself to insure the safety of another's property, in consideration of a premium paid, or secured to be paid, to him. It is his duty to pay any loss which has arisen on the property insured. Vide Marsh. Ins. Index,.h. t.; Park. Ins. Index, h. t. Phill. Ins. h. t.; Wesk. Ins. h. t.; Pardess. Index, art. Assureur.