Endorsement
Key Takeaway
A written amendment that modifies the terms, conditions, coverage, or limits of an insurance policy. Endorsements can add coverage, remove exclusions, change limits, or alter policy language.
Definition
A written amendment that modifies the terms, conditions, coverage, or limits of an insurance policy. Endorsements can add coverage, remove exclusions, change limits, or alter policy language. In legal malpractice insurance, common endorsements include prior acts coverage, additional insured provisions, and supplemental extended reporting period options.
Why This Matters for Law Firms
Understanding this concept is essential for law firms because it directly affects how your coverage responds when a claim is filed. Misunderstanding policy structure terms can leave your firm exposed to uninsured losses, particularly during carrier transitions or when claims surface years after the underlying work was performed.
Example Usage in Context
A managing partner reviewing the firm's renewal materials might ask the broker: "Can you confirm our endorsement aligns with what we had under the prior carrier? We want to make sure there are no gaps in our retrospective protection."
Related Q&A
Related terms
Need help understanding your policy?
Get a free coverage review and we'll walk through every key term in your law firm's insurance program.