Insurance providing coverage from the first rupee of loss, perhaps after a deductible, as distinguished from excess coverage, which pays only after the primary Insurance has been exhausted or the insured has absorbed a self-insured retentions. See Also: ‘Self-insured retention.”
***
US: Insurance that pays compensation for a loss ahead of any other insurance coverage’s the policyholder may have.
***
The first policy or coverage to apply. Contrast with Excess insurance.
***
UK: The insurance granted by an insurer to the original insured. If the insurance required exceeds the primary insurer’s retention, the insurance up to the retention is called the primary layer, or the first layer, or is called the underlying insurance.