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Inland marine insurance

Inland marine insurance is primarily aimed at providing coverage for goods actually in transit, goods held by a bailee, a motor carrier or a warehouse operator, and coverage for a movable type of goods. However it also encompasses coverage for projects under construction and coverage for complete constructions when they are instruments of transportation and communication (bridges, tunnels and transmission towers).

Initially the term "inland marine" referred to transportation on the nation's inland waterways (rivers, lakes, seas and canals), but now inland marine insurance is mostly applied in reference to insurance for property transported by land. Most waterborne cargo now is ensured as ocean or wet marine, while cargo transported by land is known as inland marine and has its own standards of liability, policy forms and underwriting criteria. Inland marine policies are known as floaters because originally the insured property was floating.

Today inland marine insurance covers a wide range of changing risks including accounts receivable and electronic data processing which are in a constant state of flux. This coverage can be essential to protect your business property.