1. Forms
2. MI
3. MI-10-01

What the Form Is

The MI 10 01 06 17 is an endorsement to the Insurance Services Office (ISO) Miscellaneous Professional Liability Policy (MI 00 01). Its primary purpose is to allow for the specific listing and definition of professional services that are covered under the policy. This is particularly useful when an insured provides services that are considered "Not Otherwise Classified" (NOC) or are unique and not explicitly detailed in the standard policy language. By itemizing these services, the endorsement helps to prevent ambiguity regarding the scope of coverage.

Classes of Business It Applies To

This endorsement is relevant for a diverse range of businesses that provide professional services and are seeking coverage under the MI 00 01 Miscellaneous Professional Liability Policy. The base policy itself is designed for various operations, including but not limited to:

• Advertising Services
• Answering Services/Call Centers
• Appraisal Services (Non-real Estate)
• Career Counseling
• Concierge Services
• Corporate Trainers
• Court Reporting
• Document Preparation Services
• Event Planners
• Interior Designers (Non-structural)
• Life Coaching Services
• Notary Services
• Photography Services
• Printing Services
• Private Investigator/Investigative Services
• Process Servers
• Resume Services/Consulting
• Salon Services
• Seminar Conductors
• Staffing Agencies
• Tax Preparers
• Tour Operators
• Translating/Interpreting Services (Medical and Non-medical)
• Travel Agents
• Tutoring Services

Real-world example: A consulting firm offers a niche service like "Drone-based Environmental Impact Assessment." Since this specific service might not be pre-listed in the base policy, the MI 10 01 endorsement would be used to explicitly name and describe this service, ensuring it is included within the scope of their professional liability coverage.

Special Considerations

• Clarity of Coverage: This form is crucial for ensuring that both the insurer and the insured have a clear understanding of exactly which professional services are covered, especially for businesses with novel or highly specialized offerings.
• NOC Categories: When a business's services are broad or don't fit neatly into standard classifications, this endorsement allows for precise definition rather than relying on a general NOC category.
• Ineligible Professions: It's important to note that the MI 10 01 cannot be used to add coverage for professions that are explicitly listed as ineligible under the main MI 00 01 policy (e.g., accountants, architects, engineers, lawyers, medical professionals, insurance agents/brokers).
• Claims-Made Basis: The underlying MI 00 01 policy to which this endorsement attaches is typically written on a claims-made basis.

Real-world example: A marketing agency expands its services to include "AI-driven sentiment analysis for brand reputation management." To avoid any doubt about whether this new, specific service is covered under their miscellaneous professional liability policy, they would use the MI 10 01 to list it.

Key Information for Agents and Underwriters

• Agents: Agents should proactively discuss this endorsement with clients who offer unique or multiple professional services. A thorough interview is necessary to accurately capture and list all services requiring coverage, thereby preventing potential coverage gaps.
• Underwriters: Underwriters must carefully evaluate each service listed on the MI 10 01. The nature, complexity, and potential risk associated with each specified service will influence risk assessment, pricing, and terms of coverage. More unique services may require additional information for proper underwriting.
• Risk Assessment: The endorsement facilitates a more granular risk assessment by clearly defining the professional activities being insured. This helps in avoiding misunderstandings about the intended scope of coverage.
• Defining Scope: This form is a key tool in tailoring the Miscellaneous Professional Liability policy to the specific activities of the insured. It ensures that the premium charged is commensurate with the actual risks undertaken.