An insurance company which either provides protection for a particular risk, or transports people or goods covered by an insurance policy for a fee. Whereas a private carrier transports only its owner’s goods, a common carrier is available to the public for the transport of any goods.
Most leading insurance companies are common carriers within their coverage category and cover similar types of risk. For example, auto insurers like Geico and Progressive offer coverage for non-standard, high-risk drivers; whereas State Farm and Allstate tend to cover lower-risk, standard-type drivers with better driving records.