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.