Insurer
The insurance company that issues a policy and assumes the risk of financial loss in exchange for premium payments.
Detailed Explanation
Insurers assess risk, set premiums, issue policies, and handle claims. They may be large national companies, regional providers, or specialized insurers focusing on specific markets or types of coverage.
Practical Example
After comparing quotes from several insurers, Michelle selected one with excellent financial stability ratings and a strong reputation for customer service and fair claims handling.
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