Question

Which of the following terms describes the person listed first on the declarations page of a policy when there is more than one named insured?

A) Primary Insured
B) Principal Insured
C) Lead Insured
D) Head Insured

Answer 1

The term 'Primary Insured' refers to the person listed first on the declarations page of a policy when there's more than one named insured, representing the main policyholder with authority over the policy. The correct answer is option A.

Step-by-step explanation:

The person listed first on the declarations page of a policy when there is more than one named insured is referred to as the Primary Insured. The Primary Insured is often the main policyholder who has the authority to make changes to the policy, such as adding or removing coverage or canceling the policy. The position of a named insured on the declarations page can signify the order of priority in receiving notice of policy changes, making claims, and other formal communications regarding the policy.