Inland Marine Insurance Coverage: An Introduction

Inland Marine Insurance Coverage: An Introduction

Inland marine insurance coverage was primarily created for the shipping industry to protect against property losses before, during and after water transfers. Throughout time, the non-ocean part of the cargo journey developed, cargoes were transferred to barge, and thus, the term “inland marine” was coined. These policies became known as “floaters” because the property covered was originally “floating” in the ocean.

Today inland marine insurance coverage provides protection to fill gaps in commercial property protection or to reach specific limits of coverage. Typical commercial property insurance coverages that are commonly excluded or sublimited are:

• High end camera equipment
• Construction contractor’s mobile equipment that leaves the company’s property
• Antiques, paintings, statues and fine art
• Items used for sales presentations that are taken to prospective clients’ offices
• Regularly shipped and/or delivered goods

Inland Marine Insurance Coverage Considerations

Inland marine insurance coverage can provide specific coverage by industry to protect against a wide array of exposures. For instance:

Construction

• Contractor’s equipment being shipped to a job site
• Large pieces of machinery that need to be installed

Technology and Communication

• Large screens and projection equipment being moved
• Electronic Equipment
• Medical Imaging Equipment
• Radio and Television Towers
• Scientific Instruments
• Telecommunication Equipment

In addition to inland marine insurance, we offer the following management liability products:

• Board Insurance / Directors and Officers (D&O) Insurance – online quote application
• Employment Practices Liability (EPL) Insurance
• Fiduciary Liability Insurance

Other:

• Property Insurance – Including Business Interruption & Extra Expense
• Machinery Breakdown / Boiler & Machinery Insurance
• Course of Construction (COC)
• Wrap-up Liability Insurance
• Commercial General Liability / CGL Insurance
• Pollution Liability Insurance
• Commercial Automobile & Fleet Insurance
• Umbrella Liability Insurance
• Cyber, Hacking & Privacy Liability Insurance
• Crime/Fidelity/Employee Theft Insurance
• Professional Liability/Errors & Omissions (E&O) Insurance
• Kidnap & Ransom Insurance
• Representations & Warranty Insurance

An ALIGNED Advocate can provide expert guidance about inland marine insurance coverage as well as risk management best practices for your organization. Talk to one of our advocates today about how we can help you secure the best products, services and insurance solutions for your business.