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Program Parameters |
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Coverage: |
Open Cargo and Stock Throughput Policies covering cargo during import, export, including overland transport, exhibition, salesman’s samples, and storage. |
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Commission: |
14% to IBA West members. |
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Dividend: |
A sliding scale dividend of up to 10% tied to loss experience will be refunded to policyholders. |
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Minimum Premium: |
$750 |
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Conveyances: |
Vessel, Aircraft, Express Carrier, Truck (incl owned), Rail. |
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Territory: |
Worldwide. |
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Commodities: |
All commodities considered. Certain commodities, such as precious metals, tobacco, bulk liquids, etc. may be placed with another carrier outside of the RLI program parameters described herein. |
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Available Limits: |
$250,000, $500,000 and $1,000,000 per conveyance. Warehouse limits up to $1,000,000. Higher limits available outside of the RLI program parameters described herein. |
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Restrictions: |
This is the broadest “all risks” coverage that is available in the industry. The restrictions are few and include delay, loss of market. |
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Deductibles: |
Options available from $250 to $10,000 per occurrence. |
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Valuation: |
Selling Price and Invoice cost options available. |
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Premium & Fees: |
Minimum premiums starting at $500 annually. Admitted paper – no additional fees apply other than mandatory state premium surcharges, if applicable. |
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Payment Options: |
Installments available with no fees. |
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CAT Perils: |
Earthquake, Windstorm and Flood included. |
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Carrier: |
RLI Insurance Company, admitted paper, AM Best Rated “A+ X”. |
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Additional Coverage Available: |
Property, Retail Shelf coverage, Single Shipments. This coverage is available outside the RLI program outlined above. |
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