Insurer

An insurer is a company that provides insurance coverage by agreeing to pay for certain financial losses or damages in exchange for a premium, which is a regular payment from the insured individual or entity. When you buy insurance, you are entering into a contract where the insurer promises to help cover costs if specific events happen, like accidents, health issues, or property damage. The insurer manages risk across many policyholders, ensuring they have funds available to pay claims, thus offering financial protection and peace of mind.