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  "title": "NAIC Model MO-701, Nationwide Inland Marine Definition (NAIC Model Laws, Regulations, Guidelines and Other Resources)",
  "publisher": "National Association of Insurance Commissioners",
  "url": "https://content.naic.org/sites/default/files/model-law-701.pdf",
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  "updateCadence": "Amended rarely. The model's own Chronological Summary of Actions shows substantive actions only in the 1933, 1953 and 1977 NAIC Proceedings. The July 1996 date in the page header is the NAIC compilation and copyright date, not a substantive revision date.",
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      "text": "The instrument is titled NATIONWIDE INLAND MARINE DEFINITION and is designated MO-701 in the NAIC Model Laws, Regulations, Guidelines and Other Resources compilation, with a July 1996 header and a 1996 NAIC copyright line."
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      "text": "The table of contents lists Section 1 Purpose, Section 2 Applicability, and Section 3 Exceptions."
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      "text": "Section 1 states that the purpose of the instrument is to describe the kinds of risks and coverages which may be classified or identified under state insurance laws as marine, inland marine or transportation insurance, but that it does not include all of the kinds of risks and coverages which may be written, classified or identified under those insuring powers."
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      "text": "Section 1 states that the instrument shall not be construed to mean that the kinds of risks and coverages are solely marine, inland marine or transportation insurance in all instances."
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      "text": "Section 1 states that the instrument shall not be construed to restrict or limit in any way the exercise of any insuring powers granted under charters and license."
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      "text": "Section 2 opens with the words that marine or transportation policies may cover under the following conditions, and organizes the conditions into six lettered groups: A. Imports, B. Exports, C. Domestic Shipments, D. Bridges, Tunnels and Other Instrumentalities of Transportation and Communication, E. Personal Property Floater Risk covering individuals and/or generally, and F. Commercial Property Floater Risks covering property pertaining to a business, profession or occupation."
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      "text": "Group D excludes buildings, their improvements and betterments, furniture and furnishings, fixed contents and supplies held in storage, and then lists six items: bridges, tunnels and other similar instrumentalities including auxiliary facilities and equipment; piers, wharves, docks, slips, dry docks and marine railways; pipelines, excluding property at manufacturing, producing, refining, converting, treating or conditioning plants; power transmission and telephone and telegraph lines, excluding property at generating, converting or transforming stations, substations and exchanges; radio and television communication equipment in use as such including towers and antennae; and outdoor cranes, loading bridges and similar equipment used to load, unload and transport."
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      "text": "Group E lists thirteen personal property floater items, including Personal Effects Floater Policies, the Personal Property Floater, Government Service Floaters, Personal Fur Floaters, Personal Jewelry Floaters, Wedding Present Floaters for not exceeding ninety days after the date of the wedding, Silverware Floaters, Fine Arts Floaters at E.8, Stamp and Coin Floaters, Musical Instrument Floaters, Mobile Articles Machinery and Equipment Floaters at E.11, Installment Sales and Leased Property Policies, and Live Animal Floaters."
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      "text": "Section 2.F.9 permits Builders Risks or Installation Risks covering the interest of owner, seller or contractor against loss or damage to machinery, equipment, building materials or supplies being used with and during the course of installation, testing, building, renovating or repairing, and permits the policies to cover at points or places where work is being performed, while in transit, and during temporary storage or deposit of property designated for and awaiting specific installation, building, renovating or repairing."
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      "text": "Section 2.F.9 further states that coverage shall be limited to Builders Risks or Installation Risks where perils in addition to Fire and Extended Coverage are to be insured."
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      "text": "Section 2.F.9 provides that if written for account of owner the coverage shall cease upon completion and acceptance, and that if written for account of a seller or contractor the coverage shall terminate when the interest of the seller or contractor ceases."
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      "text": "Section 2.F.10 permits Mobile Articles, Machinery and Equipment Floaters covering identified property of a mobile or floating nature, not on sale or consignment, or in course of manufacture, which has come into the custody or control of parties who intend to use the property for that for which it was manufactured or created. The item excludes motor vehicles designed for highway use, auto homes, trailers and semi-trailers except when hauled by tractors not designed for highway use, and snow plows constructed exclusively for highway use, and states that the policies shall not cover furniture and fixtures not customarily used away from premises where the property is usually kept."
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      "text": "Section 2.F.11 permits coverage of property in transit to or from and in the custody of bailees not owned, controlled or operated by the bailor, and states that the policies shall not cover the bailee's property at his or her premises."
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      "text": "Section 2.F.15 permits Accounts Receivable Policies and Valuable Papers and Records Policies. Section 2.F.18 permits Fine Arts Policies covering paintings, etchings, pictures, tapestries, art glass windows and other bona fide works of art of rarity, historical value or artistic merit, for account of museums, galleries, universities, businesses, municipalities and other similar interests. Section 2.F.21 permits Domestic Bulk Liquids Policies, Section 2.F.22 permits Difference in Conditions Coverage excluding fire and extended coverage perils, and Section 2.F.23 permits Electronic Data Processing policies."
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      "text": "Section 3 (Exceptions) provides that unless otherwise permitted, nothing in the foregoing shall be construed to permit marine or transportation policies to cover four things: A. storage of the assured's merchandise, except as hereinbefore provided; B. merchandise in course of manufacture, the property of and on the premises of the manufacturer; C. furniture and fixtures and improvements and betterments to buildings; and D. monies or securities in safes, vaults, safety deposit vaults, bank or assured's premises, except while in the course of transportation."
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      "text": "The document's Chronological Summary of Actions lists three entries: 1933 Proceedings pages 121-127 (adopted); 1953 Proceedings II pages 555-560 and 561-572 (amended and reprinted); and 1977 Proceedings I pages 26, 28, 666 and 667-671 (amended and reprinted)."
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      "text": "The words contractors equipment, motor truck cargo, trip transit and job site do not appear anywhere in the document. The only occurrences of the word contractors and the word cranes are in Garment Contractors Floaters at Section 2.F.13 and outdoor cranes at Section 2.D.6."
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      "title": "What is inland marine insurance used for?",
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    {
      "kind": "Example",
      "title": "Reading the marine insurance regulation and the nationwide definition to see why a fine arts schedule sits on an inland marine form",
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      "title": "Valuables and Collections Schedule (5 checks)",
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  "citation": {
    "text": "National Association of Insurance Commissioners. \"NAIC Model MO-701, Nationwide Inland Marine Definition (NAIC Model Laws, Regulations, Guidelines and Other Resources).\" unknown. https://content.naic.org/sites/default/files/model-law-701.pdf (retrieved 2026-08-31).",
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    "note": "Cite the underlying source when you can. Cite this record when you are describing our synthesis or our claim list."
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