28 Tex. Admin. Code § 5.5008 - Inland Marine Insurance - Other Inland Marine Risks
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.
(26) Physicians' and
surgeons' equipment floaters (non-filed).
(27) Radium floaters (non-filed).
(28) Rolling stock used on a railway system
(non-filed). Coverage may be provided on an all-risk basis or named peril
basis. Coverage must include fire, collision, derailment, overturn, strikes,
and riots.
(29) Salespersons'
samples floaters (non-filed).
(30)
Sign and street clock policies (non-filed). These policies cover neon signs,
automatic or mechanical signs, and street clocks, while in use.
(31) Silverware floaters:
(A) personal risks (filed); and
(B) commercial risks (non-filed).
(32) Stamp and coin floaters:
(A) private collections (filed);
and
(B) commercial risks
(non-filed).
(33)
Self-service storage customer floaters (filed for policy forms and
endorsements; non-filed for rates). These policies may be issued to a tenant of
a self-service storage facility to cover property stored at the facility.
(A) For purposes of this paragraph, the terms
"self-service storage facility" and "tenant" have the meanings prescribed by
Property Code §
59.001, concerning
Definitions.
(B) Coverage is
limited to property in storage for the perils listed in the policies, which
must include coverage for property while in transit.
(C) Coverage may not be provided for any
motor vehicles subject to motor vehicle registration and inspection.
(D) Policies may not cover property stored
in:
(i) any facility where the lessor issues a
warehouse receipt, bill of lading, or other document of title relating to the
stored property; or
(ii) facilities
other than storage facilities that have multiple storage units.
(34) Theatrical floaters
(non-filed). These policies may not include coverage for buildings,
improvements, betterments, and furniture and fixtures that do not travel with
theatrical troupes.
(35) Travel
insurance (filed), as described in Insurance Code Chapter 3504, concerning
Travel Insurance.
(36) Valuable
papers and records. These risks include:
(A)
personal risks (filed); and
(B)
commercial risks (non-filed).
(37) Wedding present floaters
(non-filed).
(38) Wool growers and
wool buyers floaters (non-filed). These policies cover property usual to the
insured's business while in transit and all other situations customary and
incidental to transit.
Notes
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