Other inland marine risk definitions and classifications follow.
(1) Accounts receivable (non-filed).
(2) Agricultural machinery and equipment. These risks
include:
(A) personal risks (filed); and
(B) dealers and other commercial risks (non-filed).
(3) Bailee customers policies (non-filed). These policies
cover property in the custody of bleacheries, throwsters, fumigatories,
dyers, cleaners, laundries, needle workers, and other bailees for
the purpose of storage or performing work on the property. The policies
may include coverage while in transit but may not cover the bailee's
property at the bailee's premises.
(4) Block policies. These risks include:
(A) camera dealers (non-filed);
(B) equipment dealers (non-filed);
(C) furrier's block (non-filed);
(D) jeweler's block (non-filed); and
(E) musical instrument dealers (non-filed).
(5) Builders' risks or installation risks (non-filed).
These policies cover loss to the owner, seller, or contractor due
to physical damage to machinery, equipment, building materials, or
building supplies being used with and during the course of installation,
testing, building, renovating, or repairing of dwelling, commercial,
or industrial construction.
(A) Policies may cover property designated for and
awaiting specific installation, building, renovating, or repairing
while the property is at points or places where work is being performed,
in transit, or in temporary storage or deposit.
(B) Policies may not cover property while it is part
of merchandise held by dealers for public sale.
(C) Coverage must be limited to builders' risks or
installation risks if a policy insures perils in addition to fire
and extended coverage.
(D) If a policy is written for an owner, coverage must
end when the work is completed and accepted.
(E) If a policy is written for a seller or contractor,
coverage must end when the interest of the seller or contractor ends.
(6) Cold storage locker plant policies (non-filed).
These policies cover merchandise of customers such as meats, game,
fish, poultry, fruit, vegetables, and similar property.
(7) Cotton buyers transit policies (non-filed).
(8) Domestic bulk liquids policies (non-filed). These
policies cover domestic bulk liquids stored in tanks, but do not include
fire and extended coverage.
(9) Electronic Equipment Protection Policy (filed for
personal risks; non-filed for commercial risks).
(A) These policies can cover:
(i) electronic equipment, including data processing
equipment and components, connections, extensions, and systems;
(ii) electronic media, including converted data; and
(iii) extra expense incurred to continue normal operations
that are interrupted as a result of an insured loss.
(B) A policy must cover the property while in transit.
(C) Insurance for "portable electronic devices," as
described in Insurance Code §4055.251, concerning Definitions,
is also subject to the provisions of Insurance Code Chapter 551, Subchapter
E, concerning Portable Electronics Insurance, and Chapter 4055, Subchapter
F, concerning Portable Electronic Vendor License.
(10) Exhibition policies covering property while on
exhibition and in transit to or from an exhibition (non-filed).
(11) Film floaters, including builders' risk during
the production and coverage of completed negatives and positives and
sound records:
(A) personal risks (filed); and
(B) commercial risks (non-filed).
(12) Fine arts policies covering objects of art such
as pictures, bronzes, antiques, rare manuscripts and books, and articles
of virtu:
(A) private collections (filed); and
(B) dealers and other commercial risks (non-filed).
(13) Floor plan policies (non-filed). These policies
cover property for sale while in possession of dealers under a floor
plan or any similar plan under which the dealer borrows money from
a lending institution to pay the manufacturer.
(A) The merchandise must be specifically identifiable
as encumbered to the lending institution.
(B) The dealer's right to sell or otherwise dispose
of the merchandise must be conditioned upon the lending institution
releasing the merchandise from encumbrance.
(C) These policies must cover the merchandise in transit
and not extend beyond termination of the dealer's interest.
(D) These policies may not cover merchandise for which
the collateral is the dealer's stock or inventory, as distinguished
from merchandise specifically identifiable as encumbered to the lending
institution.
(14) Furriers' customers policies (non-filed). These
policies cover specified articles of customers' property for which
furriers or fur storers issue certificates or receipts.
(15) Garment contractors floaters (non-filed).
(16) Government service floaters (non-filed).
(17) Home freezers and freezer contents (non-filed).
These policies cover against loss resulting from power failure or
mechanical breakdown.
(18) Live animal floaters. These risks include:
(A) cattle kept for feeding, dairy, breeding, or show
purposes; sheep; swine; and horses and mules (except horses and mules
used exclusively for racing, show, or breeding for racing or show):
(i) personal risks (filed); and
(ii) commercial risks (non-filed);
(B) range cattle and range sheep while on ranges (non-filed);
(C) horses or mules used exclusively for racing, show,
or breeding for racing or show (non-filed);
(D) livestock while being transported to or from stockyards
or while at stockyards (non-filed);
(E) policies issued to insureds conducting sales or
auctions, covering others' livestock for public sale (non-filed);
(F) livestock insured under mortality policies that
cover, among other perils, death or destruction due to natural causes
(non-filed);
(G) livestock of circus, carnival, or theatrical enterprises
(non-filed); and
(H) policies issued to veterinarians and humane societies
to cover others' livestock in their custody or control for professional
purposes (non-filed).
(19) Mobile equipment and miscellaneous movable property
(non-filed).
(A) These policies cover contractors' equipment, industrial
and other special equipment not primarily designed for highway use,
mechanical sales devices, storage batteries, stevedores' equipment,
divers' equipment, undertakers' equipment, outboard boats and motors,
parachutes, balloons, scientific and surveyors' instruments, articles
for sport and recreation, musical scores and orchestrations, or all
other similar movable and identified property.
(B) These polices do not cover any equipment or property:
(i) on sale or consignment; or
(ii) that, in the course of manufacture, has come into
the custody or control of parties who intend to use the equipment
or property for the purpose for which it was manufactured or created.
(C) These policies may not cover storage at the insured's
premises, except where storage is incidental to the regular use of
the equipment or property away from the premises.
(20) Musical instrument floaters. For purposes of this
section, "musical instrument" does not include music-playing equipment
like radios, televisions, CD or record players, MP3 players, and streaming
devices:
(A) personal risks (filed); and
(B) commercial risks (non-filed).
(21) Nuclear insurance (non-filed). These policies
cover loss resulting from physical damage (including risks in the
course of construction) to:
(A) designated nuclear facilities, including property
associated with the facilities and subject to radiation damage from
them;
(B) other property directly related to the nuclear
facilities; and
(C) other facilities involving substantial quantities
of radiation.
(22) Oil and gas lease property (non-filed).
(23) Pattern and die floaters, excluding coverage on
the owner's premises (non-filed).
(24) Personal property floaters (filed). These policies
include floaters for personal effects, personal fur, personal jewelry,
and other personal property.
(25) Pet insurance (non-filed). Individual or group
insurance policies covering veterinary expenses for pet illness or
injury.
Cont'd... |
