Policy Structure
Endorsement
A written amendment attached to an insurance policy that modifies the policy's terms, conditions, exclusions, or coverage. Endorsements can broaden coverage, such as adding cyber liability protection, or restrict it, such as excluding a specific practice area. They take precedence over conflicting language in the base policy form. Law firms should carefully review all endorsements at each renewal to understand how their coverage has changed from the prior term.
Related terms
Policy PeriodThe span of time during which an insurance policy provides coverage, defined by a specific inception...Renewal TermsThe conditions under which an insurance policy may be continued for a subsequent policy period. Rene...BinderA temporary agreement issued by an insurer or authorized agent that provides immediate proof of insu...