“What do my policy endorsements cover?” That’s a question our underwriters hear every day, so here’s everything you need to know about what’s covered under your insurance policy endorsements:
Additional Insured Endorsement — Issued to Last Mile Delivery Carrier, its affiliates, designated customers, shippers and landlords where deliveries are to occur.
Completed Operations Endorsement — Completed operations insurance covers a contractor’s liability for property damage or injuries to a third party once contracted operations cease.
GL Waiver of Subrogation & AL Waiver of Subrogation — Waiver of Subrogation is an agreement between two parties in which one party agrees to waive subrogation rights against another in the event of a loss. Waivers of Subrogation aren’t coverage-specific. It can be provided under commercial general liability, automobile, workers’ compensation (WC) and even property coverage.
Designated Insured — This endorsement identifies person(s) or organization(s) who are “insureds” for Covered Auto Liability Coverage under the Who Is An Insured provision of the Coverage Form. This endorsement does not alter coverage provided in the Coverage Form.
Primary and Non-Contributory — Used for AL and GL – this term is commonly used in contract insurance requirements to stipulate the order in which multiple policies are to respond when triggered by the same loss. For example, a contractor may be required to provide liability insurance that is primary and non-contributory. This means that the contractor’s policy must pay before other applicable policies (primary) and without seeking contribution from other policies that also claim to be primary (non-contributory).
30 Day Notice of Cancellation — When an insurance policy is subject to cancellation, an insurer is usually required to send a written notice 30 days in advance of the effective date.
Renee Paul is vice president of BizCHOICE Transportation, a division of Specialty Program Group, LLC. Renee has been instrumental in creating contract carrier insurance programs for the Heavy Bulk Last Mile Delivery segment of the transportation industry. She also has experience integrating a variety of technology solutions with insurance offerings to promote safety and compliance across transportation networks and logistics companies. Renee earned a Bachelor of Science degree with a major in Business Management and Administration from Humboldt State University, and is a licensed broker in Accident, Life and Health, Property and Casualty and Surplus Lines.