What is another term for the individual being insured or the owner of the insured items?

The term "assured" refers to the individual who is being insured or the owner of the insured items. This person is the one who has purchased the insurance policy and is covered by it in the event of a loss. In insurance terminology, "assured" specifically denotes the party that holds the policy, linking them directly to the coverage and the associated rights and responsibilities.

In contexts involving life insurance, health insurance, or property insurance, understanding the role of the assured is crucial, as it affects how claims are filed and how coverage is activated. The assured is the person whose interests the policy protects, and they are usually responsible for paying the premiums associated with the policy.

The other terms mentioned have distinct roles in insurance. A claimant is someone who files a claim for benefits under an insurance policy, a beneficiary is a person designated to receive benefits upon the occurrence of specific events (like death in a life insurance policy), and an underwriter is typically a professional who evaluates and assumes the risk, determining the terms and pricing of the insurance policy.