Insurer definition
/An insurer is an entity that sells insurance policies to third parties. The amount paid by the insured party for an insurance policy is called a premium payment. In the event of a qualifying loss by one of these insured parties, the insurer is obligated to provide compensation. When an insured risk is quite large, an insurer may offload some of the risk to a re-insurer. Insurers frequently specialize in specific types of insurance, such as life insurance or general liability insurance.