Definition, Meaning & Synonyms
primary-insurer
noun
/ˈpraɪˌmɛr.i ɪnˈsɜːr.ər/
Definition
The primary insurer is the insurance company that assumes the initial risk and provides coverage for an insured party.
Examples
- The primary insurer paid for the damages after the accident.
- In the event of a claim, the primary insurer must be contacted first.
- Many consumers are unaware of who their primary insurer actually is.
Meaning
In the context of insurance, the primary insurer is the entity that issues the first layer of coverage for a loss, before any reinsurance or secondary coverage comes into play.
Synonyms
- Direct insurer
- First-party insurer
- Main insurer
