0
The insured is the person or entity who is covered by the insurance policy. The insurer is the entity (insurance company)that pays to, or on behalf, of the insured for a covered loss. That which is covered by the policy is set forth in the insurance policy.
Nadia Heidenreich
Add your answer:
Earn +20 pts
What is the difference between insured and insurer?
The insured is the person or entity who is covered by the insurance policy. The insurer is the entity (insurance company)that pays to, or on behalf, of the insured for a covered loss. That which is covered by the policy is set forth in the insurance policy.
Health insurance is a written contract between which two parties?
Between the insurer (the risk-bearing entity) and the insured.
What are payments made by the insured to the insurer?
deductable
In event of a loss after notice of a claim is submitted to insurer who is responsible for providing claims forms and to which party?
insurer to the insured
Who bears the risk if the subject is insured against particular risk?
The insurer
Who bears the risk if the subject is insured against that particular risk?
The insurer
Who is third party in insurance?
third party is a party except insured or insurer, who may be subjected to a loss involved with the insured
If there are two different life insurance policies which insurer pays?
A life insurance policy is a contract. You can have as many as you want. They all have to pay out on the death of the insured.
What is the difference between insurance agents and brokers?
An insurance broker differs from an insurance agent in that a broker is considered an agent of the Insured even though he or she may receive a commission from the insurance company A broker may sell the products of a number of insurers whereas an insurance agent has the Insurer as his principal and works in the interest of the Insurer and not the Insured
Who insurer pays when an item is insured twice by two insurance companies?
anal
Who type of contract is drafted by an insurer and receives no input or alteration from the insured?
dsds
Is there an insurance company that will not pay out if i claim?
An insurance contract is an agreement between the insurer and the insured. By its terms, in return for the payment of a premium by the insured, the insurer agrees to pay on behalf of the insured, certain damages for which the injured may be legally liable. The insurer may have other obligations, too, such as to provide a defense (hire a lawyer and pay related expenses) on behalf of the insured. It is important to understand that both the insurer's and the insured's obligations are specified in the policy. Therefore, if there is an occurrence that falls outside of the undertakings of the contract, the policy will not provide coverage. An example of this is that an auto insurance policy does not provide coverage for damage to furniture caused by a house fire. Likewise, if the insured has not paid premiums as agreed and the policy lapsed before a covered occurrence happened, the insurer may properly deny coverage because the policy was not in force at the time of the occurrence. There are other circumstances under which an insurer may be within its rights not to pay. Just what those circumstances are depend upon the kind of insurance involved and the facts of the dispute.
