1. Forms
2. CM
3. CM-26-01

What the Form Is

The CM 26 01 "Property Usually Carried By You" is an endorsement to the ISO Physicians and Surgeons Equipment Coverage Form (CM 00 26). Its primary purpose is to modify the definition of "Covered Property" to focus on the medical and dental equipment, materials, supplies, and books that are usual to the insured's profession and are usually carried by the named insured. Importantly, this endorsement also deletes the Theft Damage to Buildings coverage extension and the Coinsurance Additional Condition found in the base CM 00 26 form.

Classes of Business It Applies To

This endorsement is designed for medical and dental professionals who regularly transport their essential equipment and supplies away from their primary office or premises. Examples include:

• Physicians who make house calls and carry a medical bag.
• Mobile veterinarians who treat animals at various locations.
• Therapists or specialists who provide services at multiple clinics or patient homes and transport their specific tools or devices.

Special Considerations

• Narrowed Property Definition: Coverage is specifically for items the professional usually carries. Property left at the premises might not be covered under this endorsement if it's not usually carried.
• Deletion of Theft Damage to Buildings: Since the focus is on mobile property, the coverage for theft damage to the building the insured occupies is removed by this endorsement. This makes sense as the endorsement limits covered property to that which the named insured carries and deletes any reference to “premises”.
• Deletion of Coinsurance: The Coinsurance condition, which could penalize an insured for underinsurance at the time of loss, is deleted by this endorsement for the property it covers. This simplifies claims for the typically smaller, mobile items.
• Review Carefully: This endorsement both adds (by clarifying coverage for property usually carried) and deletes (Theft Damage to Buildings, Coinsurance) provisions, so its impact must be carefully reviewed.

Key Information for Agents and Underwriters

• Agents: It is crucial to explain to the insured how this endorsement alters their coverage, particularly the narrowed definition of covered property and the deletion of the building theft damage coverage and coinsurance. Ensure the insured understands that this is for equipment they typically carry with them.
• Underwriters: When considering this endorsement, assess whether the insured's operations genuinely involve regularly carrying their essential professional equipment. This endorsement is suitable for highly mobile professionals rather than those whose valuable equipment remains primarily at a fixed location. The deletion of the coinsurance clause means that for the covered mobile property, valuation at the time of loss will not be subject to a coinsurance penalty, which should be factored into understanding the risk.