What is a Reinstatement  Endorsement?

An endorsement is a form that can change or add to an insurance policy. A reinstatement endorsement is filed to reinstate a policy that has expired without a lapse in coverage.

Understanding Reinstatement  Endorsements

For example, a carrier writes a cancellation endorsement for non-payment. However, the insured ends up submitting payment within the allowed time frame. A Reinstatement Endorsement may be filed to reinstate the policy. 

Tips for Managing Insurance Endorsements

The process for filing insurance endorsements varies from state to state, as each state maintains its own requirements. Since filing requirements for endorsements vary so much, it is important to verify what information will be required in the state in which you are filing the endorsement. 

Most endorsements will include:

  • Policy number
  • Name of Insured
  • Endorsement Type
  • Effective Date of Change
  • Premium Amounts (Additional or Return)
  • Surplus Lines Tax (Additional or Return)
  • State Stamping Fees (Additional or Return)

There’s a lot to keep track of when filing insurance endorsements, and for nearly every “rule,” there seems to be a state with an exception. With the many nuances, managing insurance endorsements can seem like an overwhelming task.

InsCipher offers products and services to simplify the surplus lines filing and reporting process, including managing endorsements. Our flagship product, InsCipher Connect™, offers intuitive features for managing endorsements without the headache or risk of non-compliance and late fees.

Related Terms

Additional Endorsement

Audit Endorsement

Cancellation Endorsement

Endorsement

Reinstatement Endorsement

Zero Premium Endorsement

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InsCipher is an insurtech company providing software and services that are revolutionizing inefficient insurance processes. Save your agency time and money by automating surplus lines compliance, filing, and reporting. Want to learn more? Request a free demo today

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Surplus Lines Tax Filing, Simplified by InsCipher.