1. Forms
2. DL
3. DL-34-13

What the form is

The DL 34 13 Transition Endorsement is an insurance policy endorsement used in conjunction with Dwelling Policies. Its primary function is to update an existing Personal Liability Supplement, specifically form DL 24 01, from a previous edition to the 07 14 edition. By attaching this endorsement, the insurer modifies the terms of the older DL 24 01 to align with the provisions found in the DL 24 01 07 14, ensuring the policy reflects the most current version of the liability coverage agreed upon.

Classes of business it applies to

This endorsement applies to personal lines insurance, specifically for Dwelling Policies (e.g., policies for non-owner-occupied dwellings, landlord policies, or homes that don't meet the criteria for a standard homeowners policy) that include the Personal Liability Supplement DL 24 01.

Real-world example: An insurance company decides to update its Dwelling Policy program to incorporate the 07 14 edition of the Personal Liability Supplement (DL 24 01). For existing policies that have an older version of DL 24 01, the insurer can issue the DL 34 13 Transition Endorsement at renewal or mid-term (if permissible) to bring the liability coverage in line with the newly adopted 07 14 edition without needing to completely rewrite that section of the policy.

Special considerations

• Program Updates: This form is typically used when an insurer implements a revised policy program. It facilitates a smoother transition for in-force policies to the updated coverage language of the DL 24 01 07 14.
• Maintaining Consistency: It helps ensure that all policyholders under the revised program have consistent liability coverage terms based on the 07 14 edition of DL 24 01.
• Understanding Underlying Changes: The DL 34 13 itself doesn't detail the specific coverage changes. To understand the actual modifications to the liability coverage, one must refer to and compare the previous edition of DL 24 01 with the DL 24 01 07 14.
• Regulatory Approval: Like all policy forms, the DL 34 13 and the edition of DL 24 01 it transitions to must be approved by state insurance departments where it is used.

Key information for agents and underwriters

• Agent Communication: Agents should be aware that this endorsement modifies the Personal Liability Supplement. It's important to understand the key differences between the previous DL 24 01 and the 07 14 edition to effectively communicate any significant changes in coverage to the insured.
• Underwriting Implementation: Underwriters need to ensure this endorsement is correctly applied during program revisions to maintain uniformity across the book of business and to ensure policies accurately reflect the intended coverage.
• Pricing: The DL 34 13 endorsement itself is a transitional tool and may not have a direct, separate premium impact. However, the adoption of the newer DL 24 01 07 14, which this endorsement facilitates, might involve premium adjustments based on any changes in coverage or risk exposure.
• Risk Assessment: The risk assessment for the personal liability portion of the policy will be based on the terms and conditions of the DL 24 01 07 14 once the DL 34 13 has been applied.