In insurance, a carrier in insurance is the company that provides the insurance coverage, assumes the risk, and is responsible for paying out claims per the terms and conditions of the insurance policy.
Different types of carriers offer a variety of insurance products like health insurance; home insurance; auto insurance; and business insurance. Furthermore, they are responsible for assessing potential risks associated with policyholders to set premiums accordingly.
Carriers can operate on a local, regional, national, or international level, and they can be either privately owned or publicly traded companies. They are regulated by state insurance departments in the United States, which ensure they have the financial stability to pay out claims and comply with all relevant laws and regulations.