RMI 3504 Lecture Notes - Lecture 7: Theatrical Property, Floor Plan, Lightning

• School: Temple University
• Department: Risk Management and Insurance
• Course: RMI 3504
• Professor: Wilkins

Document Summary

Imports: exports, domesic shipments, bridges, tunnels, piers, various types of property owned by individuals. E. g. jewelry & furs: various types of property owned by business. E. g. mobile equipment & live animals (* broad perils- all risk basis: basis of how policy is writen-includes everything unless stated in declaraions) Filed & non-filed classes of business: filed. E. g. policies which cover musical instruments & photographic equipment: non-filed. Relaively small number of potenial insurers, diverse loss exposures or both. E. g. large cranes & earthmovers (* what is iled is the rates & the forms pg. Factors that determine potenial losses are varied & can"t easily be quaniied. Method is predominant in determining rates for ocean marine insurance, inland marine unique risks, etc. Mobile equipment or tools (* largest class of inland marine business) ~ (*covers sof costs coverage & endorsement, addiional taxes, adverising expenses, real estate taxes pg. Valued at the invoice price if available if not- then acv.