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Insurance Glossary

ISO Endorsement

Industry

Definition

A standardized form used to modify, add, or delete coverage provisions in an ISO policy, identified by form numbers (e.g., CG 21 39 for Additional Insured endorsement).

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Related Terms

ISO
Insurance Services Office - an organization that develops standardized insurance policy forms, rating information, and risk data used by property-casualty insurers across the United States.
Endorsement
A written amendment or addition to an insurance policy that modifies the coverage, terms, or conditions.
Actuary
A business professional who analyzes probabilities of risk and risk management, including calculation of premiums, dividends, and other applicable insurance industry standards.
Underwriting
The process by which an insurer evaluates the risk of insuring a person or property and determines coverage terms and premium rates.
Loss Ratio
The ratio of losses paid plus loss reserves to premiums earned, used by insurers to measure underwriting profitability and pricing adequacy.
Combined Ratio
The sum of the loss ratio and expense ratio, measuring an insurer's overall underwriting profitability. A ratio below 100% indicates underwriting profit.
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