Insurer

The insurer, also known as the underwriter, is a party to an insurance contract. It refers to an insurance company that enters into an insurance contract with the policyholder and, in accordance with the contract, assumes liability for compensation or payment of insurance benefits. In foreign trade transportation, the insurer is typically the underwriting company for cargo transportation insurance, responsible for covering losses to goods during transit caused by natural disasters, accidents, etc. Usage scenarios include: exporters or importers purchasing cargo insurance from the insurer and claiming against the insurer when cargo damage occurs. Notes: The insurer is liable only for risks stipulated in the insurance contract, and the policyholder must truthfully disclose the condition of the goods; the insurer is different from an insurance agent (the latter is an intermediary) and the policyholder (the party paying the premium). Difference from the carrier: the carrier is responsible for transportation, while the insurer provides protection against transportation risks. Foreign trade practitioners should clarify the insurer's scope of liability and exclusions to facilitate smooth claims in the event of loss.