Inland Marine policy

Submitted by Dube on Fri, 11/06/2009 - 20:04

What does controlled & uncontrolled mean in an Inland marine policy??

Thanks, Alaina

Posted: 06 Nov 2009 08:41 Post Subject:

This is a great definition that will answer your question, courtesy of the Professional Insurance Agents of Florida:

http://www.piafl.org

UNCONTROLLED LINES—the various types of insurance considered to fall within the category of INLAND MARINE are generally divided into two major categories: “controlled lines” and “uncontrolled lines.” For controlled lines, there are forms filed by a bureau such as ISO, which leads to more standardization of coverages among different companies; for uncontrolled lines there are no standardized filings, so policy provisions vary more among the insurers writing these types of coverage.



Hope this helps!

InsTeacher 8)

Posted: 06 Nov 2009 09:08 Post Subject:

Not really, but thanks for replying :( can you break it down little more or use an example.

Posted: 06 Nov 2009 09:58 Post Subject:

Not really, but thanks for replying Sad can you break it down little more or use an example.



Ok, let me see what I can do.

"Filed forms" are "controlled" forms and are those policy forms that are filed, approved and on record at the insurance division. They have received the blessing of the insurance commissioner and these forms can be used by any carrier as they are "pre-approved" for use in the state. One company that files manifold forms with each state is the Insurance Services Office, or "ISO." They file "generic policy forms" that can be used by anyone in the state using ISO based forms in the policies that they issue. They have standardized coverages, rates are filed and approved and are pretty consistent in nature in terms of coverage.

"Non-filed" forms are "Uncontrolled" forms and lack the standardization and consistency of controlled forms. These are normally used by carriers that wish to impart their own versions of coverage and scope within the policy form and are normally used by one carrier only. They vary widely in terms of coverage and provisions found within the form.

Does this give you any more useful info?

InsTeacher 8)

Posted: 07 Nov 2009 01:03 Post Subject:

Yes, it does. Thank you so much for taking the time to explain it. Alaina

Posted: 03 May 2010 09:42 Post Subject:

marine inland transit policy here in india seems to be a simple policy which provides coverage to the goods or Plant & Machinery or lets say anything in transit which a person wants to get insured. so here in india controlled line means a policy stating certain special clauses for a particular transit where as uncontrolled means a simple policy which provides coverage against the named perils

Posted: 23 Jun 2010 02:22 Post Subject:

Hello,

Marine Insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination.

Posted: 23 Jun 2010 11:22 Post Subject: Inland marine freezing

22' foot boat motor froze over winter, was not drained properly. Need $7,000 motor or engine block is that covered under a inland marine rider on a home owner policy?????

Posted: 28 Jun 2010 11:23 Post Subject:

22' foot boat motor froze over winter, was not drained properly. Need $7,000 motor or engine block is that covered under a inland marine rider on a home owner policy?????



There will not likely be coverage for this as it's considered by most carriers as a maintenance issue. Your coverage likely requires that you drain the motor of fluids if it's going to be stored through the winter...you'll need to check your coverage.

This will not normally be covered under a standard, unendorsed homeowner's insurance policy- it exceeds the maximum coverage for a motor not included on a boatowner's policy.

Do you have a policy specifically on the boat? Do you have it covered under an IM rider? If so, that probably wasn't the best way to go...it should have a boat policy on it...

InsTeacher 8)

Posted: 07 Jul 2010 07:09 Post Subject:

22' foot boat motor froze over winter, was not drained properly. Need $7,000 motor or engine block is that covered under a inland marine rider on a home owner policy?????

You should have a boat owners policy NOT an inland marine policy on your boat. Although I'm not sure your boat policy will cover this anyway. As teach posted, check your coverage, but most (mine does) policys will say it has to be sudden and accidental, and can NOT be gradual deterioration, or lack of maintense.

Another thought, though, if you paid a shop to winterize your boat, you would have a claim against them.

Posted: 08 Jul 2013 05:48 Post Subject: Commercial Inland Marine - Group Policy

Is Indiana a File & Use state for Inland Marine forms when unregulated.

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