2 a person or group that has made an agreement with an insurance company that it will provide insurance against particular risks:
But the second mechanism at work in fostering consumer trust in a physician was the insurance system, which diffused the doctor's charges among all policyholders.
Option risks are determined by choices of the policyholders.
First, there are assets which are held to cover obligations to policyholders, so-called technical provisions.
An insurance firm receives premiums from its policyholders and is subject to an uncertain stream of claims.
Logically, these interpretations are clearly distinct, but no policyholder will care which is intended; the financial implications are identical.
The supervisory authority is charged to protect mainly the interests of present and forthcoming policyholders.
For example, the policyholders' behaviour also reflects financial and economic issues.
Second, there are assets which correspond to the capital funds of the company, in other words the surplus over policyholder liabilities (so-called technical provisions).