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Like ocean marine insurance, inland marine insurance has been traditionally less regulated in the United States. [3] Inland marine policies became known as "floaters" since the property to which coverage was originally extended was essentially "floating." The coverage has grown to include property that just involves an element of transportation.
Aside from the insurance coverage provided by the original three exchanges, Mid-Century offered insurance coverage for Inland marine, robbery, burglary, personal lines, plate glass, selected bonds, and floaters. [5] 1953. Seattle-based New World Life Insurance Company was acquired by Farmers. [5] 1959
Builder's risk insurance is "coverage that protects a person's or organization's insurable interest in materials, fixtures and/or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause." [2]
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. [1] Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure.
The American Association of Insurance Services (AAIS) is an American national trade association for the insurance industry in the United States.. AAIS offers details on product creation, statistical research, compliance, administrative paperwork, and technical preparation to more than 700 Member insurance agencies. [1]
Marine insurance is always written on an occurrence basis, covering claims that arise out of damage or injury that took place during the policy period, regardless when claims are made. Policy features often include extensions of coverage for items typical to a marine business such as liability for container damage and removal of debris.
Professional liability insurance coverage usually does not include defamation (libel and slander), breach of contract, breach of warranty, intellectual property, personal injury, security, [clarification needed] and cost of contract. [clarification needed] Coverage can often be added to provide indemnity "for any civil liability".
Trinity Industries Inc. is an American industrial corporation that owns a variety of businesses which provide products and services to the industrial, energy, transportation and construction sectors. Now, the company has five business groups, which are Rail Group, Construction Products Group, Inland Barge Group, Energy Equipment Group, and ...