Full Definition
A manuscript policy is a custom-drafted insurance policy created specifically for a particular insured's unique needs, as opposed to standard ISO (Insurance Services Office) or bureau forms. Manuscript policies are common for large, complex risks where standard forms don't adequately address the insured's exposure. They may combine elements of multiple standard forms, include unique coverage grants, or provide tailored exclusions. Manuscript policies require careful review by experienced brokers and legal counsel because they lack the body of case law interpreting standard form language. Lloyd's of London and excess/surplus lines carriers frequently use manuscript forms.
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