XYZ Fire Insurance Company, an insurer, entered into homeowners insurance contracts with homeowners, the insureds, whereby XYZ would provide coverage for destruction of the insureds’ homes due to fire.
insurer
Definition
A party, usually an insurance company, that contractually agrees to assume the risk of another party’s (the insured’s) losses and compensate for those losses. Also termed underwriter; insurance underwriter; carrier; assurer (for life insurance).
Definition from Nolo’s Plain-English Law Dictionary
The person or entity (usually an insurance company) that agrees to pay for losses suffered by the insured. (See also: insurance)
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:18 pm
“Petitioner Metropolitan Life Insurance Company (MetLife) serves as both an administrator and the insurer of Sears, Roebuck & Company's long-term disability insurance plan, an ERISA-governed employee benefit plan. See App. 182a-183a; 29 U.S.C. § 1003. The plan grants MetLife (as administrator) discretionary authority to determine whether an employee's claim for benefits is valid; it simultaneously provides that MetLife (as insurer) will itself pay valid benefit claims. App. 181a-182a.” Metropolitan Life Ins. Co. v. Glenn, 128 S.Ct. 2343, 2346 (2008)(J. Breyer).
