Form GI 00 01: ISO Copyright Notice
1. What the form is
The GI 00 01, titled "ISO Copyright Notice," is an administrative form used in the insurance industry. Its primary purpose is to declare that the policy forms or endorsements to which it is attached or referenced contain copyrighted material from ISO (Insurance Services Office, Inc.). ISO is an organization that develops and publishes standardized policy language used by many insurance companies. This notice serves to protect ISO's intellectual property rights and informs the policyholder and other parties that the policy language is proprietary and its use is by permission. It signifies that the policy language has been thoroughly reviewed and assessed.
2. Classes of business it applies to
The GI 00 01 is not specific to any particular class of business or line of insurance in the way a coverage form or endorsement would be. Instead, it's a general administrative notice that can be associated with a wide array of insurance policies across various lines of business, including but not limited to:
- Commercial General Liability (CGL)
- Commercial Auto
- Homeowners
- Commercial Property
- Professional Liability
Essentially, any insurance policy or related document that incorporates ISO's standardized language will include this copyright notice or a similar reference. For example, a small business purchasing a standard CGL policy, a contractor needing commercial auto coverage, or a homeowner obtaining a typical HO-3 policy might all find this notice within their policy documentation if their insurer utilizes ISO forms.
3. Special considerations
There are several important considerations regarding the GI 00 01 and ISO copyright notices in general:
- Identification of ISO Forms: The presence of an ISO copyright notice is a key indicator that a policy form is, or is based on, a standard ISO form. This is important because industry education and reference materials often focus on ISO forms.
- "Includes Copyrighted Material": Agents and underwriters should pay close attention to the exact wording of the copyright notice. A notice stating "Includes Copyrighted material of Insurance Services Office, Inc. with its permission" can be a red flag. It indicates that while the form may use some ISO language, it might also contain modifications or be a proprietary form that is not a "pure" ISO form. Such modifications could significantly alter coverage.
- Non-Standard Forms: Occasionally, particularly in the surplus lines market, a form might have an ISO number and copyright notice but still not be a pure ISO form. It's crucial to scrutinize such forms for any deviations.
- Contractual Requirements: When a contract, such as a construction agreement or lease, requires coverage to be provided on specific ISO forms, verifying the authenticity of the ISO forms (partly through the copyright notice) is critical. Using a modified or proprietary form that is not truly "equivalent" could lead to a breach of contract or a coverage gap.
- Regulatory Standing: ISO forms are widely accepted by state regulators. The copyright notice is part of the overall system of maintaining standardization and compliance.
Real-world example: A construction contract requires the subcontractor to provide additional insured coverage on a specific ISO endorsement (e.g., CG 20 10). The subcontractor's agent provides a certificate of insurance and a copy of an endorsement. If the copyright notice on that endorsement says "Includes Copyrighted material...", it warrants a closer look to ensure the endorsement hasn't been modified in a way that fails to meet the contractual requirement for the specific, unaltered ISO form.
4. Key information for agents and underwriters
- Risk Assessment & Coverage Gaps: While the GI 00 01 itself doesn't impact pricing or directly create coverage gaps, understanding its implications is vital. If a form is presented as a standard ISO form (and has the copyright notice), but is in fact a modified version, this could lead to unexpected coverage interpretations and gaps. Underwriters need to be sure about the exact policy language they are evaluating.
- Underwriting Guidelines: Insurers' underwriting guidelines are often based on the provisions of standard ISO forms. If a non-standard form is being used, even if it includes an ISO copyright notice indicating partial use of ISO language, underwriters must carefully assess how any deviations impact the risk profile and whether it still aligns with their company's underwriting appetite.
- Agent's Duty: Agents have a responsibility to understand the coverage they are placing. Recognizing the significance of the ISO copyright notice, and especially the nuanced meaning of "Includes Copyrighted material...", helps agents ensure their clients are getting the coverage they need and that it meets any contractual obligations. Misinterpreting a modified form as a pure ISO form could lead to errors and omissions (E&O) exposures for the agent.
- Form Authenticity: The copyright notice is one of several tests to determine if a form is genuinely an ISO form. Other tests include the form numbering system (e.g., "CG 00 01" for a CGL occurrence form) and the edition date (e.g., "04 13"). Familiarity with these details helps in verifying the forms being used.
In essence, the GI 00 01 and similar ISO copyright notices are more than just a legal formality. They are a critical piece of information in the complex world of insurance forms, signaling the foundation of the policy language and prompting further investigation when deviations from standard ISO wording are indicated.