Definition of Insurance Endorsement : Insurance FAQs

Summary

An insurance endorsement is a change to a policy. It can add, remove, or modify coverage and may be identified by a form number.

For example, a client hiring a company for a commercial job may require a waiver of subrogation. This prevents the insurer from seeking reimbursement from that client after paying a claim. The insurer may add this coverage through an endorsement, typically for an additional charge.

Practical Takeaway

Review insurance requirements in contracts before starting work. Confirm with the insurer which endorsements are needed and what they will cost.

Metrics and Frameworks

No performance metrics, targets, timelines, or formal business frameworks are discussed.

Presenter and Source

Emmanuel Osuya, identified in the subtitles as principal of Promise Insurance Group and a certified insurance counselor.