Who is considered a 'policyholder'?

A 'policyholder' is defined as an individual or entity that owns an insurance policy. This role is crucial in the insurance landscape, as the policyholder is the one who purchases the insurance coverage, makes premium payments, and ultimately is entitled to claims benefits under the terms of the insurance contract.

The definition encompasses a wide range of owners, including individuals, businesses, and organizations, indicating that both personal and commercial policies can have policyholders. The policyholder has specific rights and responsibilities pertaining to the policy, such as the ability to modify coverage or file claims, making this role essential in the insurance industry.

While other roles exist in the insurance ecosystem, such as agents who sell insurance or groups that provide reinsurance, they do not own policies and thus do not fit the definition of a policyholder. An agent solely represents the insurer, and a group focused on reinsurance provides coverage to other insurers rather than holding a policy themselves.