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The legal person (public limited company, mutual, cooperative or mutual provident society) that, with the corresponding official authorization, assumes the consequences of the risk that is the subject of the cover of an insurance policy. It is synonymous with “insurance company”.

What rights does it have?

The essential right of the insurer is to receive the premium payment as the price of the risk it covers. It also has the right to verify the circumstances in which the claim occurs in order to check that there is coverage according to what has been agreed in the insurance policy. This verification may be carried out by the means it deems appropriate (expert opinions, investigations, analyses, etc.) and within legally stipulated deadlines. The insurer may also freely decide the risks it wishes to assume.

For example, if the insured has a high claims ratio, the insurer may refuse to renew the insurance policy.

What are its obligations?

The key obligation is to pay the amount of the indemnity within the period stipulated in the law. When communicating the decision to refuse a claim, the insurer must indicate the reasons for their decision, in order to provide the insured or beneficiary with sufficient information for them to decide whether to accept the company’s refusal or, alternatively, whether they consider it appropriate to submit a legal claim.