Insurer

An insurer is the insurance company or organization that provides financial protection to individuals or groups in exchange for premium payments. The insurer assumes the risk of potential loss and agrees to pay benefits for covered claims according to the terms of the policy. Insurers evaluate applications, determine premiums, issue policies, and manage claims through underwriting and administration processes.

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In health, dental, life, and disability insurance, the insurer is responsible for ensuring that claims are paid fairly, benefits are applied correctly, and policyholders receive accurate information about their coverage. Insurers may offer both individual and group insurance products and are regulated by federal and provincial authorities to maintain solvency, transparency, and compliance with consumer protection laws.

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Example:

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If you purchase a personal health insurance policy from Sun Life or Manulife, that company is the insurer. They review your application, collect premiums, and pay eligible claims according to your policy’s terms.

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What to Watch For:

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Work only with licensed insurers that are recognized and regulated in your province. Review your policy documents to confirm the insurer’s name, contact information, and complaint resolution process. If you are covered under a group plan, your employer is not the insurer — they are the policyholder or plan sponsor, while the insurer administers and guarantees the benefits.