What is a characteristic of unfiled inland marine coverages?

Unfiled inland marine coverages are characterized by their flexibility in how the coverage is designed. This flexibility allows insurers to tailor policies to meet the specific needs of individual clients by offering customized coverage options that may not be available in standard forms or filed policies.

Insurance companies providing unfiled inland marine policies can adjust terms, conditions, and exclusions based on the unique nature of the risks involved, facilitating a more personalized approach to coverage. This adaptability is essential in inland marine insurance, where risks can vary widely due to the mobile nature of the properties being insured, such as equipment or goods in transit.

In contrast, filed coverages typically adhere to standardized forms and rates established and approved by regulatory entities, leading to greater consistency in rate setting and regulation. Therefore, the characteristic of flexibility distinguishes unfiled inland marine coverages from more regulated or standardized insurance products.