The American Association of Insurance Services (AAIS) is addingan equipment sales and rental coverage class to its inland marineguide, which is a resource of forms, rating procedures,underwriting guidelines, and other information for thetraditionally nonfiled classes of inland marine insurance.

The equipment sales and rental class features a base form thatprovides open perils coverage for agricultural, construction, andother kinds of mobile equipment held for sale or rental anddescribed on a schedule. Coverage is also provided for parts andaccessories, for equipment of others the insured is servicing, andfor loss to rented equipment when the lessee fails to meetobligations to insure it.

The form includes two options for providing the principalproperty coverage:

o "Inside and Outside Building Coverage," where separate limitsare indicated on a schedule for insured property inside buildingsand insured property in outdoor storage yards; or

o "Separate Limit Coverage," where limits apply to each type ofdescribed property (e.g., equipment for sales, equipment for rent,equipment being serviced, parts and accessories) whether theproperty is inside or outside of buildings.

Although the equipment sales and rental class is introduced as anonfiled class of inland marine insurance, AAIS is filing the newforms in 21 states that do not exempt inland marine insurance fromfiling requirements.

For more information, contact Rick Maka at [email protected]or 800-564-AAIS.