Common Insurance Terms
Insured — Someone protected, or covered, by an insurance policy
Policyowner — Someone who owns, and has control of, an insurance policy; in most Insurance policies, the policyowner is also an insured
Insurer — The insurance company that issues (sells) an insurance policy; also known as the carrier
First Party — The insured
Second Party — The insurance company
Third Party — Someone other than the insured or the insurance company