primary insurer in Insurance
(praɪməri ɪnʃʊərər)
Word forms: (regular plural) primary insurers
noun
(Insurance: Reinsurance)
insurerA primary insurer is the insurance company that first sells insurance to a client, who later purchases reinsurance.
SIMILAR WORDS: ceding company
To protect the insurance company from major losses, the primary insurer will typically hold a designated amount of the risk themselves, and amounts in excessof that are placed with a reinsurance company.
The primary insurer is the ceding company that initially originates the business.
A primary insurer is the insurance company that first sells insurance to a client, who later purchasesreinsurance.