Nationwide Marine Definition
Specifies the types of property that may be insured on inland marine and
ocean marine insurance forms. Qualifying property must generally be moveable,
be in transit, or bear some other relationship to transportation or communication.
The National Association of Insurance Commissioners (NAIC) adopted the Nationwide Marine
Insurance Definition in 1953 and revised it in 1976. This definition is normally
used to classify marine insurance, rather than as a definition of underwriting
powers. Although the definition does not differentiate between ocean marine
and inland marine, its primary focus is on inland marine classifications.
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