11 Flashcards
BREAKDOWN DOESNT INCLUDE:
- LEAKAGE AT ANY VALVE, SEAL, JOINT, CONNECTION, OR FITTING
- DAMAGE TO ANY STRUCTURE OR FOUNDATION SUPPORTING
- FUNCTIONING OF ANY SAFETY OR PROTECTIVE DEVICE
- LOSSES TO ANY OBJECT WHILE BEING TESTED
EQUIPMENT BREAKDOWN COVERAGE AKA: BOILER AND MACHINERY COVERS:
BOILERS, REFRIGERATORS, AND AIR CONDITIONERS
A UNIQUE CONDITION OF BREAKDOWN COVERAGE:
CAN BE IMMEDIATELY SUSPENDED IF EQUIPMENT IS FOUND TO BE IN OR EXPOSED TO A DANGEROUS CONDITION
WHAT AMENDS THE VALUATION CLAUSE SO THAT OBSOLETE AND USELESS EQUIPMENT WILL NOT BE REPAIRED OR REPLACED?
THE ACTUAL CASH VALUE ENDORSEMENT
THIS IS DESIGNED FOR PROPERTY SUBJECT TO MOVEMENT
THE INLAND MARINE INSURANCE
INLAND MARINE INSURANCE ARE AKA:
FLOATERS, AS THE INSUREDS NEEDS COVERAGE THE FLOATS WHEREVER THE PROPERTY IS MOVED
WHAT ARE THE 6 INLAND MARINE RISK?
- EXPORTS
- INPORTS
- DOMESTIC SHIPMENTS
- INSTRUMENTALITIES OF TRANSPORTATION(BRIDGES, TUNNELS..)
- INSTRUMENTALITIES OF COMMUNICATION(SATELITES AND SIGN)
- COMMERCIAL PROPERTY FLOATERS
- PERSONAL PROPERTY FLOATERS
COVERS LOSS RESULTING FROM THE DAMAGE OF ACCOUNTS RECEIVABLE RECORDS BY PAYING THE REASONABLE EXPENSES INCURRED TO REESTABLISH ACCOUNTS RECEIVABLES; DOES NOT COVER ACCOUNTING AND BILLING ERRORS
ACCOUNTS RECEIVABLES
THIS DESCRIBES A RECEPTACLE ON THE DEC PAGE AND WARRANTIES THE INSURED TO KEEP ALL PAPERS AND RECORDS IN FIREPROOF CONTAINERS WHEN NOT IN USE; OTHERWISE LOSSES CAUSED BY FIRE WILL NOT BE COVERED
VALUABLE PAPERS/ACCOUNTS RECEIVABLE FLOATER
COVERS AGRICULTURAL AND CONSTR4UCTION EQUIP SOLD BY DEALERS
EQUIPMENT DEALER FLOATER
OBSOLETE ADN USELESS EQUIP WILL NOT BE REPAIRED OR REPLACED
ACV
INCLUDES EXPLOSION COVERAGE FOR EQUIP
BREAKDOWN
TEMPORARY EXPENSES FOR REPAIRS TO OBJECTS DUE TO LOSS BY COVERED PERILS
EXPEDITING EXPENSES
INSURES PRECIOUS METALS IN A JEWELRY STORE
JEWELERS BLOCK
INSURES PORTABLE PROPERTY
FLOATERS
INSURED PROPERTY BEING DELIVERED AND INSTALLED IN THE PREMISES OF CUSTOMER
INSTALLATION FLOATER
COVERS COMPUTERS HARDWARE, SOFTWARE AND DATA
ELECTRONIC DATA PROCESSING FLOATER
APPLIES TO A SPECIFIC SHIPMENT (ONE TIME, ONE WAY)
TRIP TRANSIT POLICY
USED WHEN SHIPMENT ARE SENT OR RECVD ON A REGULAR BASIS
ANNUAL TRANSIT POLICY
COVERS PROPERTY TRANSPORTED BY A BUSINESS USING ITS OWN TRUCKS
OWNERS FORM
COVERS LIABILITY OF THE CARRIER FOR DAMAGE TO TRANSPORTED PROPERTY OF OTHERS
TRUCKERS FORM
