Which term refers to the company that offers protection through insurance policies?

The term that refers to the company providing protection through insurance policies is "insurer." An insurer is an entity that issues insurance contracts to individuals or organizations, agreeing to provide financial protection against certain risks in exchange for premium payments. This relationship is foundational in the insurance industry, as the insurer assumes the risk of loss in exchange for a fee, thereby providing policyholders with peace of mind and protection against potential financial burdens from unforeseen events.

The other options highlight different roles within the insurance framework but do not define the company itself. For instance, the insured is the individual or entity that holds the insurance policy and is covered by it. A broker acts as an intermediary, facilitating the purchase of insurance on behalf of clients without being directly involved in underwriting policies. An underwriter evaluates risk and determines the terms under which an insurer will accept, deny, or modify insurance applications. While all these roles are crucial in the insurance process, they do not represent the company providing insurance coverage.