What it does
CM 60 02 modifies the Mail Coverage Form (CM 00 60). Covered property is limited to "non-negotiable securities" (securities that cannot be cashed by unauthorized persons without forgery) sent to the owner or the owner's agent, namely stock certificates, voting trust certificates and similar evidence of ownership, and registered bonds of US or Canadian corporations and US government and municipal issuers, plus fractional share or scrip certificates and warrants worth no more than $150 per package. Property must be recorded before loss and sent by First Class or Certified Mail with a limit shown.
Who needs it
Issuers and agents mailing large volumes of low-risk certificates, where a flat charge per package is simpler than reporting values.
Quoting and selling notes
Paper certificates are far less common than in the past; confirm volume and values before quoting. CM 60 03 is a limited-coverage variant.
