A British term meaning "insured."  Policies and endorsements written in London and Bermuda markets, among other places, may use this terminology.

A British term meaning an insurer or underwriter, depending on context. Policies and endorsements written in London and Bermuda markets, among other places, may use this terminology.

A contractual relationship that exists when one party (the insurer) for a consideration (the premium) agrees to reimburse another party (the insured) for loss to a specified subject (the risk) caused by designated contingencies (hazards or perils). The term "assurance," commonly used in England, is considered synonymous with "insurance."