Inland Marine is a type of business property insurance for property in transit over land, certain types of moveable property, instrumentalities of transportation (such as bridges, roads, and piers, instrumentalities of communication (such as television and radio towers), and legal liability exposures of bailees. ‘Bailee’ An individual who temporarily gains possession, but not ownership, of a good or other property under a bailment. The bailee is entrusted with the possession of the property. Many inland marine coverage forms provide coverage without regard to the location of the covered property; these are sometimes called “floater” policies. As a group, inland marine coverage forms are generally broader than property coverage forms.
