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Question: The ________ is the party who agrees to compensate the other person against possible losses.

Options:

  1.  Insured
  2.  Insurer
  3.  Assured
  4.  None

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1 Answer

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Best answer

2. Insurer

The insurer is the party who agrees to compensate the other person against possible losses.


More information:

A insurer is a company that underwrites an insurance risk; one who calculate risks, provide insurance policies, and pays out the insurance claims.

There are three crucial components of any insurance:

  1. Premium
  2. Policy limit
  3. Deductible

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