What is the role of an insurance carrier?

The term "insurance carrier" is equivalent to "insurance company" or "insurer".

It is an entity that engages in the business of issuing insurance policies to individuals, groups, or other entities. In return for the payment of money (a premium), it assumes a range of financial risks for the person or entity insured. The range and causes o fthe risks, and the amount of financial risk assumed, is specified in the written contract.