chapter 12: Miscellaneous Commercial Policies

Farm Property Coverage Form causes of loss: special

- Provides open perils coverage for insured property other than livestock, poultry, other animals, bees, fish, worms, hay, and plants, trees or shrubs. The special form will not pay for dishonest or criminal acts committed by the insured or employee, and release or escape of pollutants or contaminants unless caused by a specified cause of loss.

Equipment breakdown protection coverage form Definitions:***** breakdown (know!)

- breakdown: failure of pressure or vacuum equipment; mechanical failure including rupture or bursting caused by centrifugal force; or electrical failure including arcing that causes damage to covered equipment and necessitates its repair or replacement "breakdown" does not include: >malfunction >defects >leakage >cracking

Employment Practices Liability Insurance

- claims made by employees, former employees, and potential employees coverage: >sexual harassment >discrimination >wrongful termination >breach of employment contract

Commercial Inland Marine Insurance Inland Marine Policies:

- property insured under these policies is property that is only covered on land. - written on an open perils basis (exclusions) >governmental action >war and nuclear hazard >consequential loss >dishonest and criminal acts of an insured >weather conditions >acts and decisions

*****Errors and Omissions (E&O) Insurance (know!)

- provides services, such as insurance agents, adjusters, real estate agents, architects, accountants, attorneys, surveyors, and appraisers, who's negligent acts or omissions may result in financial harm to a third party

*****Medical Malpractice Insurance (know!)

- such as doctors, surgeons, nurses, and dentist - this is the only type of professional liability that may include coverage for bodily injury

Contract Bonds

-contractors perform according to a construction contract if a contractor fails to perform according to the contract, the surety is responsible to the obligee for the bond limit

Commercial Inland Marine Coverage Forms and Floaters Contractors Equipment Floater:

-opens perils coverage on the insureds equipment such as mobile tools, equipment, and machinery, including forklifts, compressors, generators, and small hand tools (NO coverage) >Autos, trucks, aircraft, boats >Plans, blueprints, designs >Property loaned, leased, or rented to others >Contraband and personal property of employees

Farm Liability Insurance

1. Coverage H (Bodily Injury and Property Damage Liability) a. Coverage H pays sums the insured becomes legally obligated to pay for losses arising from bodily injury or property damage. b. Coverage includes products liability from the sale of farm products. 2. Coverage I (Personal and Advertising Injury Liability) Coverage I provides for payment of sums the insured becomes legally obligated to pay for losses arising from personal or advertising injury, to which the insurance applies. An offense must be related to the farming business. 3. Coverage J (Medical Payments) a. Coverage J provides third-party payments for reasonable medical expenses arising out of an accident, if the expenses are incurred and reported within 3 years of the accident date. b. limit applies per person, and payment is made regardless of fault.

Transportation Coverages Motor Truck Cargo Forms:

2 basic types of cargo forms: Motor Truck Cargo Carriers Legal Liability Form- provides property coverage for the insureds cargo under the following terms: • the property is owned by others and is covered property Motor Truck Cargo Owners Coverage Form- Provides open perils property coverage for the insureds cargo under the following terms: • the property is owned by the insured

Instrumentalities of Transportation and Communication

; bridges, tunnels, transmission towers

Contract bonds include:

>Bid Bond >Performance Bond >Labor and Materials Bond >Court Bonds >Judicial Bonds >Fiduciary Bonds >License and Permit Bond >Contractors license bond >Tax bonds >Brokers bonds >Motor vehicle dealer bonds

Equipment breakdown protection coverage form Exclusions:

>combustion explosion >ordinance or law except as specifically provided >earth movement >nuclear hazard >war and military action >water,flood >failure to protect property >failure to use dispatch in resuming business >loss resulting from a test >indirect loss resulting from an accident to an object ( if covered equipment is found to be in, or exposed to, a dangerous condition, the insurance company may immediately suspend coverage against the loss.

Commercial Inland Marine Insurance Nationwide Marine Definition- 6 classes:

>imports >exports >domestic shipments and property in transit >instrumentalities of transportation or communication >personal property floaters >commercial property floater

Umbrella and Excess Liability Insurance Coverage includes Bodily injury and property damage:

>insured must be legally liable >required underlying primary insurance must pay first >sometimes personal injury is covered >Defense either inside or outside the limits of liability >additional coverage is included >standard limits range from $1 to $10 million; higher limits are available.

Multi Peril Crop Insurance (know!)

>is written by private insurers and is reinsured by the Federal Crop Insurance Corporation (FCIC). >. Coverage may be provided for approximately 200 different types of crops, but 5 major crops account for 90% of the liability assumed (corn and maize, cereal grains, soybeans, tobacco, and cotton). >Covered causes of loss include: adverse weather conditions, fire, insects, plant disease, wildlife, earthquake, and volcanic eruption.

court bonds: 2 types

>judicial bonds- guarantee that certain parties fulfill their statutory obligations in connection with court proceedings >fiduciary bonds- honest and faithful performance of executors, trustees, and other fiduciaries

Umbrella and Excess Liability Insurance Exclusions found in commercial umbrella and excess liability policies include:

>professional services >employment practices liability >product recall >workers compensation and employers liability >war and terrorism >expected or intentional injury >contractual liability

Particular Average

A partial loss sustained by a specific vessel or cargo. The loss is NOT shared

General Average

A partial loss sustained voluntarily, but done so to save a vessel or cargo from a total loss.

farm property conditions: loss conditions

Abandonment ■ Appraisal ■ Duties in the Event of Loss or Damage ■ Insurance Under Two or More Coverages ■ Legal Action Against the Insurer ■ Loss Payment ■ Pairs, Sets, or Parts ■ Other Insurance ■ Recovered Property ■ Transfer of Rights of Recovery Against Others to the Insurer ■ Unoccupancy and Vacancy

Equipment breakdown protection coverage form Selected Endorsements

Actual cash value- changes the property damage method of valuation to state that the insurer will pay the lesser of: >the cost to repair, replace the damage property with property of the same kind, capacity, size or quality on the same site or another site, whichever is less costly >the actual cash value of the damaged property Business income- insurer in order to establish "actual" total net profits, fixed charges, and expenses for the immediate 12-month policy period that is expiring the endorsement is used to determine the amount of the insurers payment to the insured in the event of a loss income

Aviation Insurance*** (know!)

Aircraft hull- provides insurance for physical damage to the airplane >Ground only >Ground including taxi >All risk Aircraft liability- provides coverage for the insured's legal liability for bodily injury or property damage that arises out of the ownership or use of an aircraft. A combined single limit of coverage is purchased and applies per occurrence. >loss payments to a single person or passenger

Workers Compensation

All of the following underlying coverages must be purchased in order to qualify for the Umbrella and Excess Liability policy, except: A Workers' Compensation B Employer's Liability C CGL D Liquor Liability

Farm Property Coverage Form limits of insurance:

Applicable limits of insurance in the farm coverage forms are shown on the Declarations page for each class of property insured. If no designation appears on the Declarations, coverage is NOT provided.

Transportation Coverages Transit Coverage Forms*******(know!)

Are used when the insured purchases inland marine insurance for shipments of goods via common or contract carriers. • Annual Transit Coverage Form- property must be in transit when shipped by any type of carrier or vehicle, or in any land vehicle owned or operated by the insured • Trip Transit Coverage Form- who do not make regular shipments, but wish to insure a single shipment ( Both forms may be written on an open or named perils basis )

Commercial Inland Marine Insurance Commercial Inland Marine Classes: Controlled lines of coverage

Controlled lines of coverage- are those that use policy forms, endorsements, and rates that are filled by insurers with the departments of insurance in each of these states where they write insurance. coverage: >Accounts receivable >commercial articles floater >jewelers block coverage >sign coverage >valuable papers >records coverage, and equipment dealers coverage

Farm Property Coverage Form additional coverage's:

Coverage A, B, C, E, F, and G: 1) Debris Removal 2) Reasonable Repairs 3) Damage to Property Removed for Safekeeping 4) Fire Department Service Charge

Running Down Clause

Coverage for legal liability of the shipper or carrier for claims arising out of collisions caused by the shipper or carrier

Inchmaree Clause

Covers direct damage caused by the bursting of boilers, breaking of propeller shafts, or loss due to faults or errors in navigation by the crew.

Hull Insurance

Covers physical damage to the vessel ( 2 types of policies ) 1) voyage policy- specific voyage 2) time policy- specific period of time Named perils included perils of the sea, jettison, piracy, fire and explosion, and lightning

Farm Property Coverage Form causes of loss: borad

Electrocution of Covered Livestock ■ Attacks on Covered Livestock by Dogs or Wild Animals ■ Accidental Shooting of Covered Livestock ■ Drowning of Covered Livestock From External Causes ■ Loading/Unloading Accidents ■ Breakage of Glass or Safety Glazing Material ■ Falling Objects ■ Weight of Ice, Snow, or Sleet ■ Sudden and Accidental Damage to Heating or Air Conditioning Systems ■ Accidental Discharge or Leakage of Water or Steam From a System or Appliance Containing Water ■ Freezing of Plumbing, Heating, Air Conditioning, Fire Protective Systems, or Appliances ■ Sudden and Accidental Damage From Artificially Generated Electricity

Farm property coverage form causes of loss: basic

Fire or Lightning ■ Windstorm or Hail ■ Explosion ■ Riot or Civil Commotion ■ Aircraft ■ Vehicles ■ Smoke ■ Vandalism ■ Theft ■ Sinkhole Collapse ■ Volcanic Action ■ Collision (Coverages E & F only) ■ Earthquake Loss to Livestock ■ Flood Loss to Livestock

Freight Insurance

Freight insurance or freight revenue insurance, provides coverage when the prepayment of freight is lost due to a partial loss - depends upon the agreement between shipper and carrier

Ocean Marine Insurance provides the following types of coverage:

Hull insurance Cargo insurance Freight insurance Protection and indemnity insurance General average Particular average The running down clause Inchmaree clause

commercial property floater risks

Insure property pertaining to a business, profession, or occupation.

Protection and Indemnity Insurance (P & I insurance)

Is liability insurance purchased by ship owners for virtually all types of maritime liability pertaining to the use of a vessel. Coverage includes: Insureds negligence Damage to other property Injuries to seamen

Additional Forms (know the ***)

Mobile Agricultural Machinery and Equipment Coverage Form- provides insurance for mobile devices used in the everyday operation of a farm***** >The following types of property are specifically excluded under this coverage form: aircraft, watercraft, automobiles, motorcycles, mobile homes, snowmobiles, trucks, vehicles licensed for use primarily on public roads, irrigation equipment, contraband, etc. Livestock Coverage Form-provides insurance for livestock of a class shown on the Declarations against loss by death or destruction Livestock is defined as cattle, sheep, swine, goats, horses, mules, and donkeys; POULTRY is NOT livestock.**** c. NO coverage is provided for livestock that is: 1) In the custody of a common or contract carrier. 2) In public stockyards, sales barns or yards, etc. 3) In packing plants or slaughterhouses.

Transportation Coverages Common Carrier Cargo Liability- Motor Truck Cargo Coverages:

Motor truck cargo coverages is provided for loss or damage to property arising from the legal liability of the carrier. Coverage is written on one of the two forms: • Bill if lading form, which is written in an open perils basis • Named perils form, which varies by insurer -when a common carrier accepts property to be transported, it issues a Bill of Lading, which serves both a contract and a receipt for goods accepted into the carriers care. (2 types of Bill of Lading) Straight- meaning the carrier is legally responsible for the full value of transported goods while it is in the carriers care. Released- carriers responsibility is limited to the value stated in the bill of lading.

****Bonds bonds are contracts that involve 3 parties: (know!)

Principal (obligor)- party owing the duty, performance, or honesty and is usually the party purchasing the bond. example: Worker Surety (guarantor)- party guaranteeing the duty, performance, or honesty of the principal example: insurance company Obligee- party paid by the surety if the principal fails to perform ( because this is the party harmed by the principals dereliction of duty) example: business, boss

Liability

Protection and Indemnity (P&I) Insurance is similar to which of the following coverages? A Uninsured motorist B Medical payments C Liability D Physical damage

Fiduciary liability insurance

Provides errors and omissions insurance for businesses with respect to their administration of employee benefit plans, such as pensions, profit-sharing, and medical insurance.

court bonds

Required by the court to enforce certain behavior.

Signs

The Controlled Inland Marine Coverage forms provide insurance for which of the following? A Signs B Builders risk C Transportation floater D Installation floater

umbrella

The Nationwide Marine Definition includes all of the following classes of property, except: A Instrumentalities of Transportation B Imports C Personal Property Floaters D Umbrella

Farm Property Coverage Form exclusions:

The forms do not cover losses caused directly or indirectly by ordinance or law, earth movement (other than sinkhole collapse), government action, intentional loss, nuclear hazard, off-premises services, war and military action, or flood or surface water.

Crop/hail insurance exclusions (know!)

These may vary by company but common exclusions include: a. Until normal visible (crop must be above ground) b. Failure to harvest a mature crop c. Non-owned property (share crop) d. Loss from injury to buds, blossoms or blooms, unless the crop is affected e. Injury to leaves, vines, etc unless crops are also damaged or affected f. Injury to trees, bushes, fruit or nut crops

Crop, Hail, and Windstorm Insurance****** Crop/Hail insurance: (know!)

This is private insurance, not reinsured by the federal government Other perils that may be included in addition to hail are: a. Fire, lightning, wind. b. Freezing, drought, insects and disease ***The rates for crop hail insurance are developed by the Crop Hail Insurance Actuarial Association (CHIAA) >rated on an acreage basis >coverage begins at 12:01 a.m. following the date the application is signed, >policy is typically written with deductibles (normally a 5% yield reduction). >coverage ceases when the crop is harvested (1 growing season). >payment of an insured loss reduces the total amount of available insurance >replanting provision designed to reduce both the insured's and the insurer's losses.

Umbrella and Excess Liability Insurance

Umbrella liability is a specific form of excess coverage designed to insure against catastrophic losses • excess liability insurance • commercial umbrella insurance • primary insurance • underlying insurance • self insured retention (no excess or commercial umbrella policy is "standard") (coverage is normally written on an occurrence basis and usually applies world wide)

Express

Under Ocean Marine Coverage, breach of each of the following implied warranties will void the contract, except: A Express B Seaworthiness C No deviation in voyage D Legality

Commercial Ocean Marine Insurance (know the ***)

Vessels crossing domestic and foreign waters, including inland or aviation transit connected with the shipment - oldest form of property insurance **** there is no standard Ocean Marine policies***** -property must be insured to its full value -penalty is assessed at the time of loss if property is underinsured - warranties are promises made by the parties to the contract and the payment of losses is contingent upon those warranties - express warranties are written into the policy contract, such as the exclusion of coverage for war, strike, riot, and civil commotion - implied warranties aren't always written into the contract but are generally understood by all parties and binding upon them.

Printers

Which of the following is covered under the Electronic Data Processing Floater? A Printers B Accounts and records C Notebooks D Laptops

Windstorm insurance (know!)

Windstorm damage is covered under the peril of wind in standard property insurance policies. In some states, exclusionary endorsements may be added to property policies to exclude coverage for the peril of wind or windstorm. >they have established wind and/or wind and hail associations that provide a marketplace of last resort for those who are unable to purchase insurance for the peril of wind on their primary property policies

Commercial Inland Marine Insurance Nationwide Marine Definition:

a guideline that was established in 1953 by the National Association of Insurance Commissioners (NAIC). classifying inland marine, marine, and transportation exposures into categories of insurance. -it must be in transit, be moveable, bear a relationship to transportation or communication, or be held in the possession of a bailee.

Directors and Officers Liability

applies to officers/directors of corporations or non-profits if there is a suit claiming they managed the business w/o proper regard for rights of others

Fidelity Bonds (Honesty Bonds) (know the ***)

are designed to cover an employer from direct loss due to fraudulent and dishonest acts "dishonesty insurance" designed for needs of employers: >individual bond - used when an employer wishes to bond a single employee*** >named scheduled bond- used when an employer wishes to bond several employees who are all named in the bond**** >position schedule bond- is available to employers that desire to bond a specific position, regardless of who fills the position, or how often the person filling the position is replaced >blanket bond- for an employer that desires to cover all existing employees of a firm without exception as well as any new employees

special or professional liability insurance -policy triggers:

are typically written on a claims-made forms of coverage

special or professional liability insurance ******-who is insured: (know!)

as with commercial liability policies, the insureds are those named in the declarations and can include: >executive officers and directors >stockholders and trustees >volunteer workers and employees

special or professional liability insurance

available for those businesses and professionals that have a higher than average exposure for being legally liable for causing economic or indirect loss. (not liable for bodily injury or property damage) - a generic term that refers to insurance that protects professionals from losses that arise out of their professional conduct

Farm Property Coverage Form definitions

business property dwelling farm personal property insured insured location livestock money pollutants poultry securities

Farm Property Coverage Form coverages:

coverage a. dwellings coverage b. other private structures coverage c. house hold personal property coverage d. loss of use coverage e. scheduled farm personal property, declarations for that type of property. example: grain and hay, farm products, poultry and computers related equipment used for farm management coverage f. unscheduled farm personal property on the insured location except those specifically excluded. coverage is not provided for household or personal property usual to a dwelling coverage g. other farm structures , declarations, portable fences, and structures, corrals, pens, chutes

Cargo Insurance (know the ***)

covers physical damage losses to merchandise while in transit and can be written on an open perils basis. Certain shipping considerations affect coverage: ***FOB (free on board) point of shipment- the seller is responsible for damages until the property is placed safely on a vessel or when a bill of landing has been issued ****FOB point if destination- the seller is responsible for damages until the property reaches its final destination and is delivered based on the terms of the contract

Equipment breakdown protection coverage form Definitions:***** objects covered (know!)

equipment built to operate under internal pressure or vacuum; electrical or mechanical equipment that is used in the generation, transmission, or utilization of energy; communication equipment and computer equipment; and equipment for any of the preceding that is owned by a public or private utility and used solely to supply utility services to the insureds premises

Farm Insurance

farm insurance includes Farm Property Coverage and Farm Liability Coverage, Mobile Agricultural Machinery and Equipment Form and the Livestock Coverage Form

Liquor Liability Insurance

for businesses in the business of selling, serving, distributing, manufacturing, and furnishing alcoholic beverages based on common law and statutory liability (dram shop liability)

Equipment Breakdown Coverage**** (know!)

formerly known as Boiler and Machinery Coverage, is insurance for loss due to the equipment breakdown of most types of equipment, such as boilers, machinery, refrigeration systems, air conditioning systems, electrical equipment, business income and extra expense loss.

Surety Bonds (Performance Bonds)

guarantee that specific obligations will be fulfilled if the principal defaults and the surety must perform the contract, duty, or obligation of the principal, or indemnify the obligee for actual loss.

License and Permit Bonds

guarantees that the party seeking the license or permit will comply with applicable laws or regulations. examples: >contractors license bonds- guarantee that a contractor complies with laws pertaining to his/her trade >tax bonds- guarantee a business complies with laws pertaining to payment of taxes >brokers bonds- such as insurance, mortgage, or title agency bonds guarantee that the broker performs according to law >motor vehicle dealer bonds- guarantee that the dealer performs according to law

Equipment breakdown protection coverage form Definitions:***** one breakdown (know!)

if an initial "breakdown" causes other "breakdowns" all will be considered "one breakdown"

Commercial Inland Marine Coverage Forms and Floaters Jewelers Block Coverage:

insurance for both business personal property and goods for sale during normal course of the insureds business (NO coverage; unless endorsed) >Show windows >Money

Commercial Inland Marine Coverage Forms and Floaters Commercial Articles Coverage Form:

insurance for fine arts, cameras, musical instruments, and their related equipment when used for business or commercial purposes

Commercial Inland Marine Coverage Forms and Floaters Equipment Dealers Floater:

insurance for property consisting primarily of mobile agricultural and construction equipment, including property of others in the dealers care, custody, or control, such as binders, reapers, harvesters, tractors, bulldozers, and road scrapers (Excluded) >aircraft, watercraft, motor vehicles >accounts, bills, currency, deeds >property leased, rented, or sold

Commercial Inland Marine Coverage Forms and Floaters Valuable Papers and Records Floater:

insurance for the destruction of valuable papers and records by a covered loss; >maps, blue prints, manuscripts, films, illustrations, abstracts, deeds, books, mortgages. (NOT covered) >money >securities

Umbrella and Excess Liability Insurance - excess and liability insurance:

insurance purchased for the purpose of extending the limits of liability on another policy

Commercial Inland Marine Coverage Forms and Floaters Accounts Receivable Coverage Form:

insurance when the insureds business records are destroyed in a loss caused by a covered peril, and the business is unable to collect money its owed

Commercial Inland Marine Coverage Forms and Floaters Builders Risk Coverage:

insures building and structures that are in the course of construction

Commercial Inland Marine Coverage Forms and Floaters Electronic Data Processing Coverage (Computer Systems Coverage Form):

insures computers, component parts, associated peripheral equipment including printers and faxes, and systems used exclusively in the insureds computer operations, such as air conditioning, fire suppression, and electrical equipment. (NO coverage) >property leased to others and located off-premises >accounts, records, documents >contraband >stock in trade

Commercial Inland Marine Coverage Forms and Floaters Bailees customers form:

into their care for storage, repair, servicing, or safekeeping - provides open perils coverage for covered personal property of others while its in the care, custody, or control of the insured NOT covered: >accounts, bills, records, documents, deeds >animals, birds, or fish >autos, trucks, trailers, aircraft, watercraft >furs, jewelry, watches, precious or semi-precious stones >property accepted by the insured for storage >property shipped by mail >contraband or property in the course of illegal transportation or trade >property owned by the insured

Umbrella and Excess Liability Insurance -Self-insured Retention:

is a form of cost-sharing that applies when the policy drops down to act as primary coverage because the underlying primary policy doesn't cover a loss

Umbrella and Excess Liability Insurance - underlying insurance:

is specific insurance that insurers the same risk insured by excess or umbrella policy AND that will respond before the excess or umbrella insurance responds. -For example underlying primary coverage MUST be in place on the following business risks before an insurer will issue a commercial umbrella or excess liability policy: >Commercial General Liability >Employers Liability >Commercial Auto Liability >Liquor Liability

personal property floaters

it involves property that is usually NOT located at the insureds residence.

Exports

may be insured at any location and acquires its character when being prepared for export

Imports

may be insured at any location and must remain segregated from other property

Equipment breakdown protection coverage form Definitions:***** business income (know!)

net income that wold have been earned or incurred

the internet liability and network protection policy

on a claims-made basis for risks that are specific to business use of the internet insuring agreements: >website publishing liability >network security >replacement or restoration of electronic data >cyber extortion >business income and extra expense

Umbrella and Excess Liability Insurance - commercial umbrella insurance:

provides coverage against catastrophic losses, extends liability limits, and provides more comprehensive coverage than that contained in underlying primary insurance

Commercial Inland Marine Coverage Forms and Floaters Signs Floater:

provides coverage insurance for neon signs, automatic or mechanical signs, and street clocks, as well as billboards, ordinary fixed or plastic-faced signs

Umbrella and Excess Liability Insurance - primary insurance:

responds to loss before all other insurance that might be in place to coverage a particular loss

Domestic Shipments and Property in Transit

shipments on consignment, for sale or distribution, for approval or auction, while in transit

Labor and materials bond

that bills for labor and materials called for in a construction contract will be paid when due

Bid bond

the contractor making the bid will, upon acceptance of the bid by the contractors customer

Performance Bond

the contractor will perform, as agreed in the contract

Equipment breakdown protection coverage form coverage:

the following types of coverage are provided by the equipment breakdown protection coverage form: >property damage >expediting expenses >business income and extra expense >spoilage damage >newly acquired premises >ordinance or law coverage >errors and omissions

special or professional liability insurance -duty to defend:

the insurer may not have the duty to defend, as it has in most other insurance policies - because some professionals, such as doctors and attorneys wish to have control over whether to settle a loss

Equipment breakdown protection coverage form Definitions:***** period of restoration (know!)

the period of time that begins at the time of the "breakdown" or 24 hours before the insurer receives notice, whichever is later and ends 5 consecutive days after the date when the damage property is repaired or replaced

Farm Property Coverage Form deductible-*** (know!)

the standard deductible is $250

Commercial Inland Marine Insurance Commercial Inland Classes: Uncontrolled

uncontrolled lines of coverage- or unfilled lines, are those that use policy forms, endorsements and rates that are NOT filled with or through any rating bureau or state department of insurance - the forms and coverage differ from insurer to insurer. Uncontrolled: >builders risk coverage >contractors equipment floaters >electronic data processing (EDP) coverage >installation floaters >transportation floaters

Commercial Inland Marine Coverage Forms and Floaters installation floater:

under the installation floater is moveable property, such as electrical, plumbing, or heating equipment to be installed in a building, carpeting, tile, glass, elevators, and machinery

printers

which of the following is covered under the electronic data processing floater? >laptops >printers >accounts and records >notebooks

Breach of an implied warranty will void the contract. These warranties include:

•legality- all voyages must be made legally and for a legal purpose •seaworthiness- vessel must be seaworthy at the time of insurance. Must always be in the command of a qualified and experienced captain and crew. The vessel must comply with safety and operational requirements •No Deviation in Voyage- the ship must sail the course that was filed with the insurer at the time the policy was underwritten.