Improving Your Policy Wording

In an exclusive, online-only column, Robert Horkovich and Marshall Gilinsky of Anderson Kill & Olick talk about how a soft market is the perfect time to improve your insurance policies.

Changes to policy wording are most likely to be accepted during soft markets like the one that has existed over the past several years. Although in theory, underwriters price policies based on the specific risks being transferred via the actual policy, in practice, due to competition from other insurance companies, lack of effort or both, it is usually the case that requested changes to policy wording usually do not result in corresponding changes to premium. Essentially, the underwriter agrees to “throw in” the broadened coverage in order to keep the policyholder’s business.

For more about how to go about revising your policy in your favor, click here to read the full article on

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