Layer

{
  "id": "MLC-T-INS-001969",
  "term": "Layer",
  "field": "Insurance and risk management",
  "definition": "A portion of an insured loss or a reinsurance program that is covered by a specific policy or contract. In excess of loss reinsurance, coverage is structured in layers, with each successive layer attaching at a higher loss amount. The primary insurer retains the first layer, known as the retention, while one or more reinsurers cover subsequent layers up to a specified limit, spreading the risk.",
  "url": "https://mlchart.com/terminology/insurance/layer/"
}