Official definition

This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) insurance policies that protect policyholders against losses that may occur as a result of property damage or liability. Illustrative Examples: Automobile insurance carriers, direct Malpractice insurance carriers, direct Fidelity insurance carriers, direct Mortgage guaranty insurance carriers, direct Homeowners' insurance carriers, direct Surety insurance carriers, direct Liability insurance carriers, direct Cross-References.