Reports and Papers
An Underwriter’s Guide to State Rate, Rule, and Form Filings Read more...
This is an updated digest of the rate, rule, and form filing requirements for Inland Marine insurance in all fifty states, the District of Columbia, US Virgin Islands, and Puerto Rico. Hide
Public Warehouses: a Guide to Loss Prevention Read more...
This paper is an extensive rewrite and replaces the IMUA Report dated 2007. The paper presents an overview of the exposures and risks faced by a public warehouse operator, and the loss prevention and control measures that should be considered for goods in storage. The discussion is limited to public warehouse operations. The paper includes management practices as well as an extensive appendices including some applicable NFPA standards, a sample warehouse application, lessons from losses, etc. Hide
Lessons From Losses: Theft of a Full Truckload Shipment Read more...
This Lessons from Losses paper published by the Loss Prevention and Claims Committee, depicts the theft of a full truckload shipment along with steps that could be taken to minimize the potential for future losses. The paper includes images (contributed by CargoNet) of cargo thefts that took place in the Dallas Metroplex, including Fort Worth.Hide
Long Weekend Security Read more...
This 2019 paper is an update of a paper IMUA’s Loss Prevention and Claims Committee first published in 2013 to provide inland marine insurance professional with tips to consider to mitigate the potential for cargo thefts during long holiday weekends. Hide
Evaluating Art Fair Risks Read more...
The proliferation of art fairs is one of the greatest changes to the art market in the 21st century. Sales at fairs contributed to 46% ($16.5 billion) of total dealer revenue last year. Underwriting this type of risk may appear to be overwhelming and complex. This paper should be viewed as a tool for developing knowledge and protocols for underwriting artwork at an art fair and will take into consideration both the commercial exposure of galleries participating in art fairs, as well as private collectors consigning artwork to a participating gallery. Hide
Jewelers Block Guide To Loss Prevention & Control Read more...
This is an update of a 2006 paper published by IMUA’s Loss Control & Claims Committee with additional contributions from the Arts & Records Committee and several other SMEs in the industry. Jewelers block policies are one of the oldest forms of inland marine insurance. This type of insurance is important since many commercial property policies either completely exclude jewelry from coverage or severely restrict coverage for theft of jewelry. The paper will cover the management practices and special considerations pertaining to the loss prevention of wholesale and retail jewelry. Hide
CargoNet and IMUA US Truck Stop Cargo Thefts: January 1, 2012 – December 31, 2018 Read more...
This information was compiled principally from CargoNet, which tracks cargo theft occurrences in the United States. This is, by no means, an exhaustive listing of all events that took place in our nation’s truck stops and the patterns, if any, which can be derived from it, are certainly not immutable. It’s hoped by that by highlighting common threads shippers, trucking companies, and individual drivers can make informed decisions on routing and stops for convenience, fuel, or meals. Hide
Evaluating The Risk in the Storage and Shipping of Fine Art Read more...
Inland marine underwriters are often asked to insure fine art shipments for museums, galleries, artists, and private collections and many considerations arise when underwriters are confronted with this type of risk. The insured values can be very high, the items unique and irreplaceable, and the logistics of a move can vary from truck to airplane. The purpose of the paper is to provide insight on some of these issues and to outline the best practices for packing, storing and transporting works of art. Hide
Project Management: Builders Risk Read more...
Builders Risk Project management encompasses numerous areas but is primarily concerned with ensuring the completion of the various tasks by a host of individuals in a loss-free environment. Only when those engaged in the construction or renovation of a building understand their roles and responsibilities to each other and the project itself, can the work be successful. This is the goal of project management. This three-page paper provides insight on project management and provides links to resources on builders risk safety management. Hide
Less than Truckload (LTL) Cargo Security Read more...
While full truckload (FTL) shipments dominate the trucking industry, LTL is the faster growing part. Due to multiple handling points and potentially more time at rest, LTL shipments face additional loss exposure. This paper, published by IMUA’s Loss Control & Claims Committee, addresses the operations, loss exposures, and security solutions, and other considerations for LTL shipments. Hide
Builders Risk Guide to LossPrevention -
The following is an update of the Loss Control & Claims Committee’s 2004 checklist for the five-part Builders Risk Guide to Loss Prevention paper for use when seeking an overview of a builders risk exposure on fire, water, wind , crime, or claims. For more detailed information on one of the aforementioned topics, please refer to the associated Builders Risk paper on the topic of your choice. Hide
Builders Risk Guide To Loss Prevention
This is an update of a 2003 Loss Control and Claims Committee paper on Builder’s Risk. This Report is the fifth part in the series on Builder’s Risk – A Guide to Loss Prevention. In it the Committee examines the role of the claims adjuster and follows the logical progression of the investigation of a claim for loss or damage. Hide
US Truck Cargo Thefts (1/1/2015 - 12/31/2015)
This an update of IMUA's Loss Control & Claims Committee's paper on US Truck Stop paper first published in December 2014. This paper covers truck stop cargo thefts during the time period from January 1, 2015 to December 31, 2015. Information in this paper was compiled from a number of sources, principally CargoNet, FreightWatch International, and the SC-ISAC (as compiled by LoJack Supply Chain Integrity), which track cargo theft occurrences in the United States. While this is not an exhaustive digest; it is hoped that by highlighting certain common threads, shippers, their trucking companies, and drivers can make informed decisions on their routing and stops. Hide
US Government Arts & Artifact Indemnity Program
This is an update of IMUA’s Arts & Records Committee’s 2008 paper on the US Government Arts & Artifacts Indemnity Program. The purpose of the paper is to inform underwriters and other interested parties what the US Congress has done to assist cultural institutions to minimize the costs of exhibitions, in particular with respect to the insurance element of putting together traveling exhibitions. Hide
Storage Locations Physical Security Features and
There has been a lot of focus on cargo theft over the past few years with most of the emphasis on the security of goods in transit. Despite this focus, there have been a number of warehouse burglaries and thefts of loaded trailers and ocean containers staged at storage sites. Borrowing on the excellent foundational work of TAPA, this paper published by IMUA’s Loss Control & Claims Committee, offers notional best practices keeping a layered approach in mind. Hide
Musical Instruments Paper Read more...
Musical instruments make up a unique segment of the fine art market and therefore it is important for inland marine underwriters to understand the complexities of their fragile nature and use in order to provide proper coverage. The paper published by IMUA’s Arts & Records Committee covers a wide array of topics as they pertain to musical instruments including, transit and storage considerations, theft of musical instruments, registration of musical instruments in databases, and some best underwriting practices. Hide
Electronic Logging Devices Read more...
The Federal Motor Carrier Administration is currently proposing a requirement for interstate commercial motor vehicles to have electronic logging devices. The document was published on March 28, 2014 as a supplemental notice of proposed rulemaking would require use of Electronic Logging Devices (ELD) by all drivers of commercial motor vehicles who are currently required to maintain a record of duty status (driver's log) to record their hours of service. The ELD would have to be installed within two years after the final rule has been published. This paper describes the features, advantages, disadvantages and outlook of ELDs. Hide.
Lessons from Losses: Physical Damage to a Drone in Flight - Loss 1 and Loss 2 Read more...
These two Lessons from Losses that take place in the Spring and Fall of 2014, focus on the physical damage to drones in flight. The document covers possible ways to mitigate the losses. Hide
Truck Security Best Practices
TAPA recently developed its own trucking secuirty requirements. The objective of this paper, published by the Loss Prevention and Claims Committee, is to enhance what TAPA has established with steps they have found to be effective. The end result is a set of true best practices. Hide
Builders Risk Guide to Loss Prevention:
This is an update of a 2002 paper published by IMUA's Loss Control & Claims Committee. It is the fourth part of a six part series, including a summary checklist focused specifically on the loss exposures related to builders risk. Security planning for a builders risk site can range from basic to sophisticated depending on the scope of the project, location of the site, values exposed and what is actually being insured. The exposure of theft, vandalism, and malicious mischief can sometimes overlap depending on the type of construction. Hide
Drones: Read more...
Although there have been media reports abut the potential wide-scale use of drones in the commercial sector, the FAA has not approved the use of unmanned drones for commercial use. To date, these drones are being used by military contractors overseas as well as government agencies in the United States. However, there appears to be pent-up demand for users in the areas of land surveying, agriculture and academia once the FAA finalizes new rules for the devices which are not expected for a few years. Hide
Motor Truck Cargo State Filing Guide: Read more...
The following represents the most currently available digest of individual State Cargo Insurance Filing Requirements for Motor Truck Cargo Carriers as well as household goods carriers. Since the original report was first released in February 1997, a substantial number of changes have taken place, and, as individual states adopt new statutes, move their offices or reorganize departments, changes will continue to occur. Read more...Hide.
Builders Risk Guide to Loss Prevention:
While fire is often the major cause of loss during course of construction, water damage, resulting from a myriad of causes including fire suppression efforts, generally gets less attention. And yet, it is actually water related losses that consume as many loss dollars as other Builders Risk perils except for the Fire grouping (Fire, Lightning, Explosion and Smoke).This paper will address water related exposures as they pertain to roofs, piping and drainage, and material storage and susceptibility It is the second part of a six part series, including a summary checklist focused specifically on the loss exposures related to builders risk. Hide
Builders Risk Guide to Loss Prevention:
Every year windstorms cause tremendous damage to buildings under construction in all geographic regions of the United States. Most of the damage at construction sites involves masonry walls, framework, forms, and roof coverings. This is an update of a 2002 paper published by IMUA's Loss Control & Claims Committee. It is the third part of a six part series, including a summary checklist focused specifically on the loss exposures related to builders risk. Hide
Lessons from Losses: Flood Damage to
When "Sandy" hit the Northeast it packed extreme winds and rain resulting in significant storm surge in the affected area. This lessons from losses illustrates flood damage to inventory at two separate locations in the northern part of New Jersey. Hide
Flood Damage Mitigation Checklist
Proper preparation is crucial to limiting flood damage. Here are some steps that should prove helpful to you, prior, during, and after a flood event. Hide.
Builders Risk Guide to Loss Prevention:
This is an update of a 2001 paper published by IMUA's Loss Control & Claims Committee. It is the first part of six part series, including a summary checklist focused specifically on the loss exposures related to builders risk. The potential for significant property damage from fire is often greater during the course of construction than after construction is completed. This is due to the fact that unprotected structural members, combustible building materials and construction debris, temporary heating equipment, and "hot work" processes are all involved in the builders risk construction process. The combination of increased hazards and exposures coupled with a lack of operating fire protection systems can increase the potential for destructive fires. This report will address many of these issues as well as provide ideas on how to prevent or mitigate the potential for loss caused by fire. Hide
Module 3 Cargo Theft Deterrent Technologies
Various anti-theft technologies exist; although the main drawback about these technologies is that most require the truck driver to actively install/use such systems. These devices should be part of a layered approach to security that incorporates these and other physical deterrents (conveyance and covert tracking systems) with procedural controls that ensure appropriate protocols are in place. Relying on these locks and locking systems alone is not enough. Hide.
Module 3 Security Seals What Stand Between the Cargo and the Thief Read more...
Security seals may be the only barrier between a shipment of high value goods and a thief. While almost every loaded truck, trailer, rail car and ocean container is protected by some sort of device, seals are most often the choice due to their unique qualities. In the event of cargo theft or pilferage from a conveyance, the type of seal used, how it was affixed and ultimately defeated will be front and center in the subsequent investigation. Claim investigators and risk managers need a basic understanding of security seals to help them in the post-loss forensic examination. This understanding can also help them avoid future losses. Security seals are generally passive, one-time devices used to detect tampering of or entry into the cargo spaces of trucks, trailers, railcars and ocean containers. There are numerous seal manufacturers and various types and models any of which can be effective provided appropriate application and proper procedures are followed. Hide.
2013 Transportation Trends and Forecasts
The transportation component of the inland marine industry has always been a difficult piece of the inland marine book, with many insurers struggling to find that one key to making this a profitable segment of their inland marine book. The transportation industry overall continues to grow and therefore will always be a significant part of an inland marine book, making that key even more critical. Hide
Conservators Errors and Omissions
Standard insurance policies explicitly exclude loss or damage to covered property during any repairing, restoration or retouching process. Because of the extraordinary monetary values associated with fine art this can leave an owner unintentionally exposed to large uninsured losses. This three-page paper will explore what conservation is, coverage provided by standard forms, concerns with conservation coverage being provided by inland marine underwriters and risk mitigation topics when the coverage is provided. Hide
Module 2 – GPS: Emerging Trends
The Global Positioning System [GPS] is a satellite-based navigation system which is owned by the United States. Currently GPS consists of a network of 30 orbiting satellites that are eleven thousand nautical miles in space and in six different orbital paths. The satellites are constantly moving, making two complete orbits around the Earth in less than 24 hours. The system was designed for and is operated by the US military. In the 1980s the United States government made the system available for civilian use on a worldwide basis providing positioning, timing and navigation capabilities and services (PTN). There is an amazing array of current and emerging uses for GPS. Hide
Module 1- The Emerging Role of RFID Technology
Radio-Frequency Identification [RFID] technology has been around for years and was used by the military in Operation Desert Storm in 1990. However, the idea did not get much commercial traction until 2005 when Walmart and the Department of Defense (DOD) tried to mandate the use of RFID tags. Today, inland marine underwriters focus on RFID to track goods in transit and recover stolen cargo. Hide
|2012/05||IMUA Elects New Slate of Officers and Board Members at the 82nd Annual Meeting: Association Announces New Direction for Future|
The Current State of the Art Market
This 16-page paper is an update of the current state of the art market written from an insurance perspective, and discusses the economic current state of the art market. It continues where the Arts and Records Committee’s 2010 paper left off and it is written from both a personal and commercial lines perspective. The paper also discusses the importance of maintaining an accurate schedule and appraised valuations that reflect the economic dynamics of the class of business. Hide
Cargo and Conveyance Tracking & Security Systems
With all the technological advances in the modern global supply chain, the insurance underwriter and loss control personnel involved with goods and merchandise in transit need to have a working knowledge of the devices being used today intended to make transit of goods safer, cheaper and better. The purpose of this paper is to help the insurance professional understand general definitions of the devices; how the types of devices work; advantages and disadvantages; and other considerations of individual devices. Hide
Intermediate Fine Art Underwriting: Case Studies
The following case studies were a part of a larger body of work Paul Fritsch, AU – ACE Group – completed to instruct IMUA’s Intermediate Fine Art Underwriting Course. The case studies summarize important underwriting issues. Hide
Lessons from Losses: Burglar Alarm Systems with Cellular Back-up Transmission Equipment
At midnight on a Sunday, thieves gained access to the roof of a two-story building adjacent to a shopping center. The thieves entered the shopping center through the air conditioning housing and total inventory theft was approximately $1.3 million, plus property damages. Hide
Lessons from Losses: Proof of Loss
Recovery of a stolen art work years after the actual theft and the importance of a properly executed Proof of Loss and Subrogation Agreement and its relationship to policy wording. Hide.
Foreign Trade Zones: A Primer
From a U.S. perspective, the country’s trade policy is based on a free trade model. However, importation of goods & merchandise into the U.S. & their ultimate distribution may result in a myriad of foreign trade related costs, taxes & duties imposed at present by U.S. Customs & Border Protection [CBP]. One question then revolves around global competition: how a company can import goods into the U.S. & mitigate these costs, at least initially. The answer to the dilemma is the Foreign-Trade Zones [FTZs] Program. This 11-page paper has been prepared to enhance one’s knowledge & understanding of the role & implications of Foreign-Trade Zones in the movement of goods & merchandise in the supply chain & has a decided insurance focus. Hide
|2010/04||Overview on the Current State of the Art Market
This 11-page fine art market overview is written from an insurance perspective, and discusses the economic current state of the art market. It is intended to become a springboard for subsequent updates issued periodically by the Arts & Records Committee in concert with major global art sales to inform and educate both the experienced fine art specialist and the generalist underwriter who has some responsibility/authority to insure fine art. It is written from both a personal and commercial lines perspective. The paper also discusses the importance of maintaining an accurate schedule and appraised valuations that reflect the economic dynamics of the class of business. Hide
|2009/12||A Loss Prevention Guide to Motor Truck Cargo
This 30-page guide has been prepared to alert loss control representatives, underwriters, shippers, and carriers to motor truck cargo hazards, and to advise them of some positive steps that can be taken to minimize cargo lessons. Hide
|2009/12||Lessons From Losses – Warehouse Legal Liability & Theft of Stored Cargo
In its ongoing effort to report on significant loss trends, the IMUA Loss Control & Claims Committee has issued this Lessons from Losses report on a growing trend for thieves to attack large warehouse facilities, compromise the alarm system, and steal significant amounts of stored cargo Hide
|2009/08||Pallets Read more...
A pallet is a portable platform that facilitates the movement and storage of unitized goods. Stacking goods on pallets with lift trucks emerged as a handling technique by the United States military during World War II. There are about 450 million new pallets produced each year in North America and nearly 2 billion pallets worldwide are in use at any given time. This 16 page paper covers the types of pallets, the various sizes of pallets, loss control considerations, and a glossary of related terms. The paper includes a list of references for additional information on pallets. Hide
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