Okuzeka
Insurance vocabulary · Policies & Contracts

Insurer

Meaning in insurance, with examples

/ɪnˈʃʊrər/nounCore term

In insurance, insurer means: A company that sells insurance policies, collects premiums and pays valid claims; in other words, the side that carries the risk.

In Turkish: sigorta şirketi, sigortacı

How it is used

Formal and very common in contracts, news and industry reports. People also say 'insurance company' or, in the US, 'carrier'. Insurers launch products, raise prices and pay out claims; customers switch insurers.

Example sentences

  1. Several insurers have stopped offering flood cover in the area.

  2. The insurer asked for the repair invoices before making a decision.

Common collocations

  • leading insurer
  • switch insurers
  • the insurer's liability
  • major insurers
  • insuranceAn arrangement in which a company agrees to pay for certain losses or damage in exchange for regular payments, so that one person's risk is shared by many.
  • policyholderThe person or company that owns an insurance policy, signs the contract and is responsible for paying the premium.
  • underwriterAn insurance professional who examines risks, decides whether to accept them and sets the premium, limits and conditions.
  • reinsurerA company that insures insurance companies, accepting part of their risks in return for part of the premium.

More terms: Policies & Contracts

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This page explains English vocabulary for learners. It is not financial advice.