Definitions

1. noun

A person or entity purchasing insurance coverage.

“The insurance company will verify the identity of the insurant before issuing the policy.”

2. noun

A party insured under a contract of marine insurance.

“The insurant is responsible for providing accurate information about the vessel during the underwriting process.”

3. noun

A person or entity that has purchased a policy or contract from an insurance company, with the policyholder being the one who owns the policy.

“The insurant and policyholder are often confused, but they have distinct roles in the insurance process.”