Inland Marine & Ocean Cargo
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| Brief history of inland marine | show 🗑
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| Covered loss exposures inland marine | show 🗑
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| show | - Transportation (annual transit, open cargo, mail insurance, motor truck cargo)
- Instruments of transportation & comm
- Equipment floaters (contractors equip, computer equipment)
- Builders & installation risks)
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| Hull insurance | show 🗑
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| show | - Protection & indemnity
- Provides comprehensive liability coverage
- Property dmg to piers and docks
- Bodily injury damages to others, including illness to passengers/crew
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| show | - Ocean marine equivalent to annual transit insurance
- Covers frequent shipments overseas by boat or plane
- Often no expiration date
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| show | Marine terminology for named insured
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| "Average" | show 🗑
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| 3 parties involved in transportation exposures | show 🗑
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| show | - Most common "transportation ins"
- Covers all shipments during policy period (1 yr usually)
- Must list types of trans covered, may leave out international exposures
- Typically open peril
- Excludes jewelry, furs, $, etc.
- May cover common/contra
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| Trip transit insurance | show 🗑
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| show | - Through USPS or private insurers (for very valuable items)
- Parcel post policy is for loss due to non-delivery
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| Contractors equipment floater | show 🗑
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| show | - May cover electrical/mech breakdown or prop in transit
- Can cover equip, data, & media
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| Builders risk coverage | show 🗑
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| Dealers policies | show 🗑
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| show | - FOB Point of origin: ownership passes to buyer when goods accepted by carrier.
- FOB destination: ownership passes to buyer when delivered
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| Bill of lading | show 🗑
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| show | a share of loss among a ship and cargo owners if cargo must be jettisoned
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| show | Ocean marine equivalent of "exclusions"
- Usually only warranty is piracy
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| show | State of the types of property that may be insured on inland marine and ocean marine insurance forms
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| show | The classes of inland marine business for which neither policy forms nor rates must be filed with the state insurance department
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| show | The classes of inland marine business for which policy forms and/or rates must be filed with the state insurance department.
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| show | A policy designed to cover property that floats, or moves, from location to location
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| Invoice value | show 🗑
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| Agreed value method | show 🗑
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| Shipper | show 🗑
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| show | The person or organization that receives property being transported by a carrier
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| Common carriers | show 🗑
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| Contract carriers | show 🗑
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| show | A natural and unavoidable catastrophe that interrupts the expected course of events
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| show | A quality of or condition within a particular type of property that tends to make the property destroy itself
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| Bill of lading | show 🗑
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| show | A travel contract in which the transportation is temporarily hired for a specific trip
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| Annual transit policy | show 🗑
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| Open cargo policy | show 🗑
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| Assured | show 🗑
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| General Average | show 🗑
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