Managing Inland Marine Insurance Coverage
Inland marine insurance provides businesses with coverage of transportable property, or classes of property that require specialized valuation. There are a wide range of property types which can fall under this type of coverage, including items involved in transportation, communications, construction, fine art collections, or certain kinds of specialized equipment that needs to be used on site, or be moved from location to location.
Insurance carriers, program administrators, and Managing General Agents for businesses in every kind of industry utilize inland marine insurance offerings in order to manage risks and increase efficiency and profitability. The best outcomes can often be reached by working with businesses that specialize in providing coverage in these areas, and maintain partnerships with ISO that allow them to provide nuanced and comprehensive rating systems. Utilizing the extensive ISO database, these risk-management groups can provide insurance carriers or Managing General Agents with ISO inland marine rating services for an entire industry sector or for stand-alone insurance offerings.
Classes of Inland Marine Coverage
Most businesses will require inland marine coverage for specialized equipment employed in their industry, and particularly equipment involved in communications and transportation of property. The following are some of the most common industry sectors that can benefit from ISO inland marine rating services:
- Retail, manufacturing, and distribution
- Electronic data management
- Fine art galleries, museums, installations, and collections
- Communications equipment
- Transportation, cargo, and storage logistics
- Education and municipality administration
- Construction management
The ISO Partnership Advantage
Groups that are partnered with ISO have a distinct advantage in providing the best coverage information. Access to ISO’s exhaustive database libraries allows them to develop customized ISO inland marine rating programs to suit your specific coverage requirements, features, and classes, a service that can be invaluable to businesses that need to manage risks across specialized industry sectors.