Who is referred to as the insurer in an insurance contract?

In an insurance contract, the term "insurer" specifically refers to the insurance company that provides coverage. The insurer takes on the risk and is responsible for compensating the policyholder in the event of a covered loss. The contract outlines the terms, conditions, and exclusions of the coverage, with the insurer bound to uphold these terms as long as the policyholder adheres to their responsibilities, such as paying premiums.

The policyholder, or the party buying the insurance, is not the insurer; they are the insured or the buyer of the policy. The beneficiary is an individual or entity designated to receive benefits from the insurance policy, typically after the insured’s death or loss. The claims adjuster is a professional who assesses claims on behalf of the insurer to determine the extent of the insurer's liability. Thus, the insurance company, as the entity assuming the risk, is correctly identified as the insurer.