What does Insurer mean? Read on to discover the definition & meaning of the term Insurer - to help you better understand the language used in insurance policies.
An insurer is a party who agrees to compensate people, companies, or other organizations for specific financial losses. This service is typically provided for an exchange of payments called premiums. The exact perils that are covered and the exact cost of the premiums are laid out in the contractual agreement between the insurer and the insured.
We hope the you have a better understanding of the meaning of Insurer.