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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.
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 state legislature created the Indiana Port Commission in 1961 to research and act upon opening maritime ports on Indiana's Lake Michigan shoreline as well as the Ohio River. [1] Ports of Indiana-Burns Harbor opened in 1970 and is located on Lake Michigan at the intersection of U.S. Route 12 and Indiana State Road 249. [2]
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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.
The Indiana Harbor and Ship Canal is an artificial waterway on the southwest shore of Lake Michigan, in East Chicago, Indiana, which connects the Grand Calumet River to Lake Michigan. It consists of two branch canals , the 1.25 miles (2.01 km) Lake George Branch and the 2 miles (3.2 km) long Grand Calumet River Branch which join to form the ...
The National Defense Authorization Act for 2023, Public Law 117-263, made the most dramatic change to the program by adding, "bulk, liquid, or loose cargo loaded in tanks, holds, hoppers, or on deck" as well as adding marine highway services that operate between a port on the United States Marine Highway to and from Canada and Mexico. The law ...