Definition - What does Countersignature mean?
A countersignature is the act of signing a document that has already been signed. This is done for the purpose of authenticating the document. In some states, the insurance policy is signed by both the broker and the insurer.
It is also known as a countersign.
Insuranceopedia explains Countersignature
The following might need to be countersigned:
- A bank withdrawal that goes over a certain amount
- A government contract or document such as a passport
- A company letter that needs at least two signatures from two company representatives
That last one is a feature in some insurance contracts where the signature of an agent and the company head are both required to authenticate a policy.