Business column
The insurance domain can be quite complex. There are different types of companies active in this field. For example, Hienfeld is an insurer. This is different from a broker. To provide insight into how the various parties are involved in insurance, we provide a general explanation of the insurance industry's supply chain below.
Parties
Car insurance company
The company, where insurance companies can reinsure themselves for (a part of) the risks they have undertaken.
Car insurance broker
The internationally operating professional advisor of insurance companies, who advises and mediates in concluding reinsurances with reinsurance companies.
Insurance company
The company that bears the risk of the insurance.
Insurer
Insurance specialist, who independently accepts standard and customized insurance policies for one or more insurance companies, for which she has power of attorney. She also has the authority to settle and resolve claims.
Thus, Hienfeld insurers are, among others, the specialists for collective accident and business travel insurance and for all art insurance.
Insurer
Insurance company or insurer (the provider of insurance).
Insurance agent
The professional advisor of the policyholder, who inventories the risks of the policyholder, analyzes them, and provides advice on insuring risks, and on behalf of the policyholder, mediates in taking out insurance for this with insurers. For large and heavy risks, she has access to the insurance market to arrange co-insurance policies.
Under co-insurance is understood: an insurance form in which large and/or heavy risks are distributed among multiple insurers on the policy. Each insurer participates in the risk for a certain percentage, and the broker ensures 100% coverage.
Insurance intermediary or advisor
The professional advisor of the policyholder, who inventories and analyzes the policyholder's risks and provides advice on insuring risks, and mediates in contracting insurance for this with insurers on behalf of the policyholder.
Policyholder
The (legal) person who enters into the insurance contract with the insurer(s) (the client).