(1)
Imports. Imports may be covered wherever the property
may be and without restriction as to time, provided the coverage of the issuing
companies includes hazards of transportation.
An import, as a proper subject, or marine or transportation
insurance, shall be deemed to maintain its character as such, so long as the
property remains segregated in such a way that it can be identified and has not
become incorporated and mixed with the general mass of property in the United
States, and shall be deemed to have been completed when the property has
been:
(a) Sold and delivered by the
importer, factor or consignee;
(b)
Removed from place of storage and placed on sale as part of importer's stock in
trade at a point of sale-distribution; or
(c) Delivered for manufacture, processing or
change in form to premises of the importer or of another used for any such
purposes.
(2)
Exports. Exports may be covered wherever the property
may be without restriction as to time, provided the coverage of the issuing
companies includes hazards of transportation.
An export, as a proper subject of marine or transportation
insurance, shall be deemed to acquire its character as such when designated or
while being prepared for export and retain that character unless diverted for
domestic trade, and when so diverted, the provisions of this ruling respecting
domestic shipments shall apply. However, 211 CMR 10.02(2) shall not apply to
long established methods of insuring certain commodities
(e.g., cotton).
(3)
Domestic
Shipments.
(a) Domestic
shipments on consignment, for sale or distribution, exhibit, trial, approval or
auction, while in transit, while in the custody of others and while being
returned, provided that in no event shall the policy cover on premises owned,
leased or operated by the consignor.
(b) Domestic shipments not on consignment,
provided the coverage of the issuing companies includes hazards of
transportation, beginning and ending within the United States, provided that
the shipments shall not be covered at manufacturing premises nor after arrival
at premises owned, leased or operated by assured or purchaser.
(4)
Bridges, Tunnels
and Other Instrumentalities of Transportation and Communication
(excluding buildings, their improvements and betterments,
furniture and furnishings, fixed contents and supplies held in storage). The
foregoing includes:
(a) Bridges, tunnels,
other similar instrumentalities, including auxiliary facilities and equipment
attendant thereto;
(b) Piers,
wharves, docks, slips, dry docks and marine railways;
(c) Pipelines, including on-line propulsion,
regulating and other equipment appurtenant to the pipelines, but excluding all
property at manufacturing, producing, refining, converting, treating or
conditioning plants;
(d) Power
transmission and telephone and telegraph lines, excluding all property at
generating, converting or transforming stations, substations and
exchanges;
(e) Radio and television
communication equipment in use as such including towers and antennae with
auxiliary equipment, and appurtenant electrical operating and control
apparatus;
(f) Outdoor cranes,
loading bridges and similar equipment used to load, unload and
transport.
(5)
Personal Property Floater Risk Covering Individuals and/or
Generally.
(a) Personal Effects
Floater Policies;
(b) The Personal
Property Floater;
(c) Government
Service Floaters;
(d) Personal Fur
Floaters;
(e) Personal Jewelry
Floaters;
(f) Wedding Present
Floaters for not exceeding 90 days after the date of the wedding;
(g) Silverware Floaters;
(h) Fine Arts Floaters covering paintings,
etchings, pictures, tapestries, art glass windows, and other bona fide works of
art of rarity, historical value or artistic merit;
(i) Stamp and Coin Floaters;
(j) Musical Instrument Floaters (Radios,
televisions, record players and combinations thereof are not deemed musical
instruments);
(k) Mobile Articles,
Machinery and Equipment Floaters (excluding motor vehicles designed for highway
use and auto homes, trailers and semi-trailers except when hauled by tractors
not designed for highway use) covering identified property of a mobile or
floating nature pertaining to or usual to a household. The policies shall not
cover furniture and fixtures not customarily used away from premises where the
property is usually kept;
(l)
Installment Sales and Leased Property Policies covering property pertaining to
a household and sold under conditional contract of sale, partial payment
contract or installment sales contract or lease, but excluding motor vehicles
designed for highway use. The policies must cover in transit but shall not
extend beyond the termination of the seller's or lessor's interest; and
(m) Live Animal
Floaters.
(6)
Commercial Property Floater Risks Covering Property Pertaining to a
Business, Profession or Occupation.
(a) Radium Floaters;
(b) Physician's and Surgeons' Instrument
Floaters. The policies may include coverage of furniture, fixtures and tenant
Assured's interest in improvements and betterments of buildings located in that
portion of the premises occupied by the assured in the practice of his or her
profession;
(c) Pattern and Die
Floaters;
(d) Theatrical Floaters,
excluding buildings and their improvements and betterments, and furniture and
fixtures that do not travel about with theatrical troupes;
(e) Film Floaters, including builders' risk
during the production and coverage on completed negatives and positives and
sound records;
(f) Salesmen's
Samples Floaters;
(g) Exhibition
Policies on property while on exhibition and in transit to or from
exhibitions;
(h) Live Animal
Floaters;
(i) Builders Risks or
Installation Risks covering interest of owner, seller or contractor, against
loss or damage to machinery, equipment, building materials or supplies, being
used with and during the course of installation, testing, building, renovating
or repairing. The policies may cover at points or places where work is being
performed, while in transit and during temporary storage or deposit, of
property designated for and awaiting specific installation, building,
renovating or repairing.
Coverage shall be limited to Builders Risks or Installation
Risks where perils in addition to Fire and Extended Coverage are to be
insured.
If written for account of owner, the coverage shall cease upon
completion and acceptance thereof; or if written for account of a seller or
contractor the coverage shall terminate when the interest of the seller or
contractor ceases.
(j)
Mobile Articles, Machinery and Equipment Floaters (excluding motor vehicles
designed for highway use and auto homes, trailers and semi-trailers except when
hauled by tractors not designed for highway use and snow plows constructed
exclusively for highway use), covering identified property of a mobile or
floating nature, not on sale or consignment, or in course of manufacture, which
has come into custody or control of parties who intend to use such property for
which it was manufactured or created. The policies shall not cover furniture
and fixtures not customarily used away from premises where the property is
usually kept;
(k) Property in
transit to or from and in the custody of bailees (not owned, controlled or
operated by the bailor). The policies shall not cover bailee's property at his
or her premises;
(l) Installment
Sales and Leased Property. Policies covering property sold under conditional
contract of sale, partial payment contract, installment sales contract, or
leased but excluding motor vehicles designed for highway use. The policies must
cover in transit but shall not extend beyond the termination of the seller's or
lessor's interest. This section is not intended to include machinery and
equipment under certain "lease-back" contracts;
(m) Garment Contractors Floaters;
(n) Furriers or Fur Storers Customers
Policies (i.e., policies under which certificates or receipts
are issued by furriers or fur storers) covering specified articles the property
of customers;
(o) Accounts
Receivable Policies, Valuable Papers and Records Policies;
(p) Floor Plan Policies, covering property for sale
while in possession of dealers under a Floor Plan or any similar plan under
which the dealer borrows money from a bank or lending institution with which to
pay the manufacturer, provided:
1. The
merchandise is specifically identifiable as encumbered to the bank or lending
institution;
2. The dealer's right
to sell or otherwise dispose of the merchandise is conditioned upon its being
released from encumbrance by the bank or lending institution;
3. That the policies cover in transit and do
not extend beyond the termination of the dealer's interest.
These policies shall not cover automobiles or motor vehicles;
merchandise for which the dealer's collateral is the stock or inventory as
distinguished from merchandise specifically identifiable as encumbered to the
lending institution.
(q) Sign and Street Clock Policies, including
neon signs, automatic or mechanical signs, street clocks, while in use as
such;
(r) Fine Arts Policies
covering paintings, etchings, pictures, tapestries, art glass windows, and
other bona fide works of art of rarity, historical value or
artistic merit, for account of museums, galleries, universities, businesses,
municipalities and other similar interests;
(s) Policies covering personal property
which, when sold to the ultimate purchaser, may be covered specifically by the
owner under Inland Marine Policies including:
1. Musical Instrument Dealers Policies,
covering property consisting principally of musical instruments and their
accessories. Radios, televisions, record players and combinations thereof are
not deemed musical instruments;
2.
Camera Dealers Policies, covering property consisting principally of cameras
and their accessories;
3. Furriers
Dealers Policies, covering property consisting principally of furs and fur
garments;
4. Equipment Dealers
Policies, covering mobile equipment consisting of binders, reapers, tractors,
harvesters, harrows, tedders and other similar agricultural equipment and
accessories therefore; construction equipment consisting of bulldozers, road
scrapers, tractors, compressors, pneumatic tools and similar equipment and
accessories therefor; but excluding motor vehicles designed for highway
use;
5. Stamp and Coin Dealers
covering property of philatelic and numismatic nature;
6. Jewelers Block Policies;
7.
Fine Arts
Dealers. Policies may include coverage of money in locked safes or
vaults on the assured's premises. The policies also may include coverage of
furniture, fixtures, tools, machinery, patterns, molds, dies and tenant
insureds' interest in improvements of buildings.
(t) Wool Growers Floaters;
(u) Domestic Bulk Liquids Policies, covering
tanks and domestic bulk liquids stored
therein;
(v) Difference in Conditions Coverage
excluding fire and extended coverage perils; and
(w) Electronic Data Processing
policies.
