Insurance that covers vessels and thier cargos, including various vessel-related liability exposures
Inland Marine insurance
Insurance that covers many different classes of property that typically involve an element of transportation
Marine insurance
Marine insurance that includes both ocean and inland marine coverage and in the rest of the world is limited to insurance for vessels and cargo
Bailment
The temporary possesion by one party(thebailee) of personal property owned by another party (the bailor) for a specific purpose, such as cleaning or repair
Filed Classes
The classes of inland marine business for which policy forms and rates must be filed with the state insurance department
nonfiled Classes
The classes of inland marine business for which niether policy forms nor rates must be filed with the state insurance department
Contracters equipment floater
Policy that covers mobile equipment or tools while anywhere in the coverage area
Builders risk policy
Policy that covers a building in the coarse of construction, including building materials and supplies while on or away from the building site
Judgement rating
Rating method used by underwriters to rate one-of-a-kind risks
Freight
The compensation a carrier recieves for transporting cargo.
Voyage policy
Policy that covers cargo for a single trip specified in the policy; compareable to an inland marinetrip transit policy
Hull insurance
Insurance that covers physical damage to vessels, including their machinary and fuel but not their cargo
Collision liability clause
Clause that covers the insureds liability for collision damage to other ships and their cargos
Protection and indemnity insurance
Insurance that covers shipowners against various liability claims due to operating the insured vessel