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Layer

A horizontal segment of the liability insured, e.g., the second $100,000 of a $500,000 liability is the first layer if the cedant retains $100,000, but a higher layer if it retains a lesser amount. See Pro rata.
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UK: a term used in mainly in reinsurance to denote a stratum of cover, for example, claims between £10,000 and £50,000 (which might be expressed as £40,000 excess of £10,000); insurance cover may be arranged in a number of successive layers, with different layers being covered by different insurers or reinsurers.
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REINSURANCE: The total amount of excess of loss reinsurance portion which an insurer needs to protect a given set of exposures is usually not written in one contract. Instead, the total amount is split into pieces or layers and separate contracts are written which fit on top of each other and have similar or identical terms but separate limits which sum to the total amount required. Each of the separate contracts in the series is called a layer or level in the total program.

Layer/layering

A horizontal stratum of cover within a structure of layers. For example, a primary insurer covers £100,000, the first excess insurer covers the next layer up to £200,000, the second excess insurers takes in excess of £200,000 up to £300,000 and so on. Layering spreads the risk among insurers or reinsurers and is applied to both property and liability insurances. See EXCESS INSURANCE.

Layering

The Ceding office retains the bottom layer of risk itself and the Reinsurer only have to pay claims above this level. For example, if the cedant had retained Rs. 1,00,000 of a Rs. 10,00,000 risk, the cedant would bear the first Rs. 1,00,000 of each and every loss and the Reinsurers would pay only that part of any claim in excess of Rs. 1,00,000.
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An arrangement whereby two or more Insurers each provide a rupee amount of Insurance coverage, or layer. The Insurer of the first layer is primary, thus responding first in covering a loss above any retention by the insured. Insurers of subsequent layers respond in sequence, as necessary, to cover any large loss. Layers are used in both property and liability Insurance. Also, See Also: “Layering, Reinsurance.”

LC

1. HCPCS Level II modifier that may be used with CPT or HCPCS Level II codes indicating a specific vessel (left circumflex coronary artery) in a stent placement, balloon angioplasty, and/or atherectomy. 2. Abbreviation for low complexity. See low complexity (LC) .

LCD articles

Local coverage determination articles and frequently asked questions (FAQs) that appear on Medicare contractor websites that address local coverage, coding, and medical review–related billing issues.

LD

HCPCS Level II modifier that may be used with CPT or HCPCS Level II codes indicating a specific vessel (left anterior descending coronary artery) in a stent placement, balloon angioplasty, and/or atherectomy.

Leaching

Process by which organic matter and soluble pollutants is washed out of a layer of soil, or dumped material, by percolating rainwater. Causes pollutants to enter the ground and groundwater. It causes gradual pollution (insurable only under environmental impairment liability cover). The material washed out is called leachate.

Lead Reinsurer

The reinsurer who negotiates the terms, conditions and premium rates and first signs on to the slip. Reinsurers who subsequently sign on the slip under those terms and conditions are considered following reinsurers.