What does Multiple Coordinated Policies mean? Read on to discover the definition & meaning of the term Multiple Coordinated Policies - to help you better understand the language used in insurance policies.
Multiple Coordinated Policies
An arrangement of workers compensation insurance coverage typically used in the residual market to ensure that workers leased through an employee leasing company/professional employer organization (PEO) are afforded coverage without gaps or overlaps. This is achieved by having the leasing company/PEO and each of its clients purchase separate policies that have a common expiration date and are written by a single insurer. Then the multiple coordinated policy endorsement is added to each policy, which specifies which leased employees are covered by that policy.
We hope the you have a better understanding of the meaning of Multiple Coordinated Policies.