What is a "policyholder"?

A policyholder is defined as an individual or entity who owns an insurance policy. This ownership grants them rights and responsibilities associated with that policy, such as making premium payments, filing claims, and having the ability to make changes to the coverage. The policyholder is essentially the insured party, who stands to benefit from the coverage provided by the policy in the event of a loss or claim. Understanding this designation is crucial because it delineates who holds legal rights and obligations regarding the insurance contract, which can affect everything from claim handling to policy renewals.

The other roles mentioned, such as a representative of the insurance company, an underwriter, or an attorney specializing in insurance claims, hold different responsibilities and are not owners of the policy. Each has a distinct function within the insurance ecosystem, but they do not possess the same rights and interests as a policyholder.