Insurer


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Related to Insurer: life insurance, reinsurer

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.

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)

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.

References in periodicals archive ?
Aetna dodged my questions about the baboon study, the armistice with Robins, and other awkward subjects, citing "legal reasons," "advice of counsel," and the inviolability of insurer confidentiality: "...
A Texas life and health insurer regroups with a new name and a new objective, lowering the high cost of health care.
2003-78, Section 3.04, a foreign insurer or reinsurer that wishes to enter into a closing agreement must submit all of the following documentation:
Silverstein wants the insurers to cough up more than $7 billion and classify the Sept.
The court also states that an insured reasonably expects that the insurer, in using the authority granted under the policy, will not knowingly effect a settlement that works to the detriment of the insured.
In response, insurers may be tempted to renew policies for less premium to retain their business, or they may undercut other carriers' prices to gain market share and immediate short-term profits.
While the act requires insurers to "make available" terrorism coverage, the act does not set the premiums for such insurance.
The insurance contract further provided that the insurer would not be obligated to pay benefits under circumstances where the insured was not legally obligated to pay for the services in the first instance.
Insurance, for now, is receiving only a few indirect benefits, but some experts believe RFID may soon aid insurers in loss recovery, automobile identification and document tracking, as well as in driving down health-care costs by providing more accurate medical records and tracking patients, medication doses and hospital equipment inventories.
This interest may seem surprising, since many of these insurers are restructuring problem real estate portfolios -- though not of the magnitude of some of their larger competitors, said Yeskey, adding that, Investment continues because the available yields are difficult to find outside real estate.
In recent years there has been a proliferation of bad faith lawsuits against disability insurers resulting in tens of millions of dollars in jury awards.
46.4374-1(b), the liability for the FET attaches when the premium payment is transferred to the foreign insurer or reinsurer (including transfers to any bank, trust fund or similar recipient, designated by the foreign insurer or reinsurer), or to any nonresident agent, solicitor or broker.