Common Insurance Endorsements | Beacon Hill Associates
Introduction
Have you ever wondered about the common policy endorsements in insurance? Well, you’re not alone! At Beacon Hill Associates, we receive numerous inquiries regarding these endorsements. Our goal is to make sure that most commonly requested coverage is automatically included in our policies, but it’s important to review each policy individually. In this article, we will provide an overview of typical endorsements that are frequently requested.
Additional Insured (AI) Status
One of the frequently sought-after endorsements is the Additional Insured (AI) status. This coverage is often desired by certificate holders and job owners. In most cases, our policies for General Liability (GL) and Contractors Pollution Liability (CPL) coverage include additional insured coverage on a general basis, with wording like “where required by written contract.” While some carriers may limit these endorsements to owners, renters, or contractors, many carriers have broad endorsements that apply to various circumstances. It is crucial to understand the relationship between the requested additional insured and the named insured in the policy to determine if the general endorsement would fulfill the coverage requirement. Additionally, there are other types of additional insured endorsements available to meet specific contract requirements, which need to be reviewed and approved by the carrier. If a designated endorsement is necessary, some companies may charge a nominal additional premium. However, our excess policies generally follow the same coverage unless specifically excluded, so additional insured endorsements are usually not required.
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Waiver of Subrogation (WOS)
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The waiver of subrogation (WOS) is another commonly required endorsement. We typically include this endorsement automatically in most policies with general wording. This coverage meets most contract requirements, and carriers often charge a nominal additional premium to support the waiver of subrogation for designated entities. Once again, our excess policies generally follow this coverage.
Primary & Non-Contributory Redaction (PNC)
Frequently requested for additional insureds, the primary and non-contributory redaction (PNC) coverage is automatically included in most policies. It is either built into the additional wording of the insured’s endorsement or provided as a separate endorsement.
Direct Notice of Cancellation (DNOC)
The direct notice of cancellation (DNOC) is a requirement we encounter almost daily for certificate holders. Some of our companies can endorse “blanket” DNOC policies, meaning they maintain a list of entities or endorse each entity as needed, but only charge once. Other companies may need to support the policy every time, resulting in per endorsement charges. Excess policies typically follow the same formulary and do not require an additional premium. However, please note that DNOC may not be available for workers’ compensation policies depending on state-specific notice provisions.
Aggregate Endorsements for Designated Projects
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For contracts, there may be instances where aggregate endorsements from designated projects are required. Typically, these endorsements are issued for specific projects, but sometimes they can be endorsed on a general basis. It is important to note that coverage is not automatically included and must be requested if necessary. To provide coverage for a particular project, the carrier will require information about the operations and income from the work to provide a quote.
Coverage Forms and ISO Endorsements
Most of our providers utilize their own proprietary coverage forms instead of ISO forms. However, ISO endorsements may be used if the contract specifically requires it and the general liability coverage is written in ISO CG 0001. In terms of the endorsements discussed here, our carriers’ proprietary forms are typically equivalent to or broader than ISO forms. Furthermore, it’s worth mentioning that adding some of these more common endorsements to policies such as auto and workers’ compensation may be subject to state law.
Conclusion
If you have any questions about specific endorsements required by a contract, don’t hesitate to reach out to us. Our team at Beacon Hill Associates will be more than happy to review the policy and inform you whether the coverage is included or help you inquire if it’s not already included. Thanks to the flexibility of our carriers, we can work with you and your policyholders to navigate any requirement that may arise. Contact us today for more information on endorsements or to get in touch with our service department.
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