The person who is insuredThe entity (individual or otherwise) whose risk of financial loss from an insured peril is protected by the insurance policy. More on the insurance policyA written contract of insurance. More. He or she is also the “policyholder” or “insuredThe entity (individual or otherwise) whose risk of financial loss from an insured peril is protected by the insurance policy. More.” There may be other people, named or unnamed, who are covered as well.