An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as an insured or policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurers promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms and usually involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship. Call us today for more information regarding our services.