INSR 441 Ch. 7 Key terms

Insurance that covers vessels and thier cargos, including various vessel-related liability exposures

Insurance that covers many different classes of property that typically involve an element of transportation

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

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

The classes of inland marine business for which policy forms and rates must be filed with the state insurance department

The classes of inland marine business for which niether policy forms nor rates must be filed with the state insurance department

Policy that covers mobile equipment or tools while anywhere in the coverage area

Policy that covers a building in the coarse of construction, including building materials and supplies while on or away from the building site

Rating method used by underwriters to rate one-of-a-kind risks

The compensation a carrier recieves for transporting cargo.

Policy that covers cargo for a single trip specified in the policy; compareable to an inland marinetrip transit policy

Insurance that covers physical damage to vessels, including their machinary and fuel but not their cargo

Clause that covers the insureds liability for collision damage to other ships and their cargos

Insurance that covers shipowners against various liability claims due to operating the insured vessel