Commercial Inland Marine - Module C

Physical damage to a contractor's bulldozer is best covered under which of the following?

A Commercial Inland Marine Contractors Equipment floater.

Which of the following would require bailee coverage?

A TV repair shop.

The term "inherent vice" is used in Inland Marine insurance to refer to

A characteristic of some cargo to destroy itself.

Which of the following would NOT be covered by a Commercial Inland Marine coverage form?

A garage A garage would be covered under a Commercial Property form, not a Commercial Inland Marine form. A garage is not portable nor does it have a direct connection with transportation or communication related to moving cargo or information.

Which of the following would be required to use a "bill of lading" when hauling goods?

Common carrier

Which of the following Commercial Inland Marine policies is designed to cover hardware, data and software?

Electronic data processing.

Which of the following Commercial Inland Marine policies covers the truck carrier for liability due to loss of cargo?

Motor truck cargo trucker's form

A common carrier has signed a contract to deliver goods of the seller. The goods are to be shipped "Free on Board Destination". When does the responsibility of the seller end?

Not until the goods are delivered to the buyer in accordance with the contract terms The title to the property in transit remains with the shipper until it arrives at the buyer's destination point and has been accepted by the buyer. These clauses in the cargo policy will determine where the responsibility lies for damage to cargo in transit. These clauses are usually contained in the Bill of Lading which is the contract between the shipper (seller) and the buyer (purchaser) of the goods or the contract to transport the goods with the carrier.

All of the following are defenses to a common carriers liability under a Motor Truck Cargo policy, EXCEPT:

The shifting of a load in a tractor-trailer due to the driver's high rate of speed.

Which inland marine form covers single shipments of property?

Trip transit policy.