Insurer

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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 ?
To protect these interests it is essential that insurers fully inquire into all possible bases that might support the insured's claim.
Another course pursued by hull and marine insurers entails prosecution of a shipper when a catastrophic loss can be traced to its cargo.
With today's enormous computing capacity and sharply declining data-storage costs, data warehousing detailed BI claims settlement information is eminently possible.Amassing BI data can help insurers meet the fairness-consistency challenge of settling claims in several ways.
At its worst, it's the legal equivalent of Abbott and Costello's "Who's on First," which can seriously impede the insurer's ability to bring the litigation to a successful resolution.
Insurers have additionally questioned coverage for costs associated with government and regulatory inquiries.
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.
Credit scoring by insurers is similar to, but not the same as, credit scoring used by consumer credit agencies, as insurers place different weights on different factors than do credit agencies.
To lure overseas insurers, the bill eliminates regulatory obstacles.
Class 2 Insurers. A company must register as a class 2 insurer if it is wholly owned by at least two unrelated persons (i.e., persons that are not members of the same group) and if at least 80 percent of the risks written (computed on the basis of net premiums) are risks of its owners or any affiliates of its owners.
Most larger insurers are rated by more than one service, although few are rated by all.
(Not all insurers use the same coding schemes.) If keeping track of these codes doesn't cause vertigo, personal and other ID codes will: Each doctor, clinic, and hospital has its own state license number, private insurance provider code, CHAMPUS code, VA code, FECA code, Indian Health Service provider code (if you happen to treat an American Indian), and federal tax ID code.