Workers' comp policy changes are a part of having coverage in place. I have seen over 300 changes to a policy in one year. Yet, those changes can occur only one way — or are supposed to change using only one method.

James Moore

I will revisit this question when I publish Workers Comp quizzes as in the past.

Workers' comp policy changes start with DICEE

I have written many articles on the parts of property and casualty or workers' compensation policies. Let us begin there.

• D — declarations. See this article for more information.
• I — inclusions. Synonymous with insuring agreements.
• C — conditions.
• E — exclusions. Sometimes called exemptions.
• E — endorsements, at the end of your policy.

Why are endorsements last on the DICEE list? The answer is that changes to a policy in place can be changed only by endorsements. 

Endorsements can be thought of as a place to change the policy. If you happen to see language changes in the original policy without an endorsement, that is a yellow flag — possibly red flag material. 

I have placed a series of links at the end of this article on endorsements. Why? Because it is the only way for workers' comp policy changes. Yes, there could be exceptions in a certain state, but those would be rarities.

Read all of your endorsements

In the old-school days, endorsements were mailed to you or your company. Now you may receive hundreds of emails changing any of your policies. Read them carefully, whether they are business or personal policies.

Your broker/agent receiving them does not suffice for informing you or your company of the endorsements. You have to receive them, not a representative of any type.

One beyond-critical issue is that you do not have to sign off on most endorsements. Speak up if you receive an endorsement that you disagree with the new terms, immediately. Why? An old-school insurance term: Time is of the essence.

I made the mistake of not reading my homeowner’s endorsement, which I caught the following year. This would have added thousands to my deductible without me realizing the increases.

Always email your agent/broker if you question any workers' comp policy changes. Telephoning generates no documentation like an email chain.

Endorsement articles for reference

I have written many articles on endorsement and workers' comp policy changes. Check them out. Most of the information is still valid:

• "Forgotten Part of Workers Comp Policies"
• "Endorsements vs. Declarations Page"
• "Mid-Policy Assessments Becoming More Popular"

This blog post is provided by James Moore, AIC, MBA, ChFC, ARM, and is republished with permission from J&L Risk Management Consultants. Visit the full website at www.cutcompcosts.com.