Who is the individual or entity that transfers a right under an insurance policy by means of assignment?

The correct answer is the assignor. In insurance terminology, the assignor is the individual or entity that transfers their rights or benefits under an insurance policy to another party. This process is known as assignment. The assignor retains no additional claim to those benefits once the assignment is executed, effectively giving all rights to the assignee, who is the recipient of those rights.

Understanding the roles involved is important, as the assignee is the one receiving the rights and the agent typically refers to the individual who sells or manages the insurance policy on behalf of the insurance company. The term assured often refers to the insured party in a policy, which is also a separate role. The clarity of these definitions helps in grasping the nuances of policy rights and their transfer within the insurance framework.