Who is considered the insurer in an insurance context?

In an insurance context, the insurer is specifically the insurance company that provides coverage to policyholders. This entity assumes the financial risk associated with covered events in exchange for premium payments. The insurer is responsible for paying covered claims as outlined in policy contracts, and it operates under strict regulatory standards to ensure it can meet its obligations to policyholders.

An insurance agency typically acts as an intermediary between clients and insurers but does not assume risk itself. Individuals seeking coverage are considered policyholders or applicants rather than the entity providing coverage. Independent brokers facilitate connections between clients and insurance companies but do not provide coverage themselves. Thus, the insurance company stands out as the correct answer since it is the one that holds the obligation to cover risks and manage policy agreements.