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8 Cards in this Set
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businessowners section 3-common policy conditions protective safeguards utility services |
require policies to have protection like fire alarms, sprinkler systems etc utility services direct damage-from covered peril-water, communication, and power supply utility services -time element- loss of business income due to physical loss. |
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(new section) builders risk coverage form insures buildings while under construction |
covered: buildings, temporary structures, foundations, fixtures, machinery, equipement, materials, supplies not covered: land, water, outdoor lawns, trees, plants, radion and TV antennas, signs. |
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builders risk coverage form coverage period additional coverage and extensions |
covered from date constructions starts to the policy expiring, construction abandoned, bought by purchaser, 90 days after completed, 60 days after occupied, when insured interest in property ceases debris removal preservation of property fire department charge-$1k max pollutant cleanup $10k max materials and supplies that become permanent up to $5k sod, trees, plants up to $1k |
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new topic inland marine personal floaters-used to cover movable personal property |
all risk, open peril or named peril form personal property floater- covers on all risk basis world wide. unscheduled basis personal articles floater- scheduled basis-like jewelry, furs, art, etc personal effects floater- carried or worn by travelers but not insured at home. $100 max for jewelry, watches, furs, no coverage for vehicles, bikes, currency or travel tickets |
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inland marine commercial property floaters |
in addition to common policy conditions monoline or package policy forms are filed-insurer may have to fire for rate or form approval unfiled forms-may not require filing to ins. dpt. may require multiple types of documations. $250 deuctible, usually open peril basis exclusions are the same as the rest of the policies accounts receivable form: most important form. provided for property at fixed location rather than mobile property. provides protection of losses of accts due from customers who cant pay. written on all risk basis |
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inland marine bailees customer coverage forms |
covers losses to customers' property in the care of the insured. all unfiled bailees customer policy-covers bailees and bailors furriers block- in fur business and covers merchandise while insured is cleaning, storing or repairing cleaners or laundries, covers loss to customer property warehousemans-covers property while it is stored |
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inland marine commercial articles form contractors equipment floaters additional aquired property |
covers the interest of the owners, as opposed to dealers of commercial cameras, instruments, and similar property. provided on an all risk basis must be insured for total amount due to coinsurance claim unfiled inland marine coverage form generates more premium than any other coverage. insures mobile equipment and contractors equipment. covers while on the job site and in between can be written on named peril or open peril adds for property that is bought during policy period. up to $50k |
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inland marine electronic data processing equipment dealers form |
if own, lease or rent equipment you can use this unfiled forms computer hardware, data processing media, extra expenses, business interruption stock of equipment not covered: automobiles, motor trucks, aircraft and watercraft, acconts, furniture, office supplies, improvements, machinery, tools molds, contrabans, and illgal trade provided on all risk basis exclusions are: water flood and surface water, unexplained dissapearance, damage done, artificial electric current, polution cleanup and theft to building additionals: valuation, coinsurance, records and inventory, and protective safeguards |
