The entity or person named first on the dec page of the policy. The first named insured or primary has certain rights or responsibilities that are not afforded to the other additional insureds on the policy. Some examples of these rights would be return premium and receipt of cancellation notices. The responsibilities include premium payment and compliance with loss notice requirements.
Article provided by James J Moore, AIC, MBA, ChFC, ARM. All articles are original content. Check out the full website at www.cutcompcosts.com.