What does Divided Risk Endorsement mean? Read on to discover the definition & meaning of the term Divided Risk Endorsement - to help you better understand the language used in insurance policies.
Divided Risk Endorsement
Can be attached to any type of insurance policy for the purpose of delineating exposures covered by particular insurance policies (e.g., project or site-specific policies) in order to remove any possibility of double coverage. For example, these endorsements are commonly used on contractors' workers compensation policies to exclude payrolls associated with the contractor's work on a project that is insured under a wrap-up insurance program.
We hope the you have a better understanding of the meaning of Divided Risk Endorsement.