Who is responsible for holding a policy?

The party responsible for holding a policy is typically the account holder, producer, or the primary named insured. This group consists of individuals or entities who have taken out an insurance policy and are recognized within that policy as having the rights and responsibilities outlined by the insurer.

The account holder is the individual or business that purchases the insurance policy, while the producer refers to agents or brokers who facilitate the purchase of the insurance on behalf of clients. The primary named insured is the individual or entity specifically listed on the policy, who has the authority to make changes to the policy and file claims.

This group indicates an important aspect of insurance; those who hold the policy are directly involved in its terms and benefits. The other roles listed, such as an insurance adjuster, underwriter, or claims manager, play supportive or regulatory roles in the insurance process but do not hold the policy themselves. Adjusters assess claims, underwriters evaluate the risk of insuring clients, and claims managers oversee the handling of claims, but none are the designated policy holders.