Commercial credit property insurance (non-filed). These policies
provide property coverage for commercial credit transactions involving
installment sales, leased property, and deferred payment contracts.
The policies cover the interest of a vendor or mortgagee in property
sold in a commercial transaction under an installment sales contract,
or a partial or deferred payment contract, and the interest of a lessor
in leased property.
(1) For purposes of this section, a commercial credit
transaction is one that does not fall within the meaning of a consumer
credit transaction as described in §5.5006 of this title (relating
to Inland Marine Insurance -- Consumer Credit Property Insurance).
(2) Policies must include coverage while in transit.
(3) Policies may extend coverage to include vendee,
mortgagor, or lessee interests. The policy may not cover beyond the
termination of the vendor's, mortgagee's, or lessor's interest.
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