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INLAND MARINE COVERAGE
Inland marine insurance indemnifies loss to moving or moveable property and
is an outgrowth of ocean marine insurance. Historically, ocean marine insurance
held the transporter responsible for property loss before, during, and after
the completion of the voyage. In the 1800's, the non-ocean portion of the journey
grew as cargoes were transferred to barge, etc., and the term "inland marine"
was coined. Inland marine policies became known as "floaters" since the property
to which coverage was originally extended was essentially "floating."
Coverage Explanations:
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