What it does
CM 60 03 is listed in the ISO commercial inland marine forms index as the limited-coverage version of the Flat Premium Per Shipping Package – First Class Mail Or Certified Mail endorsement to the Mail Coverage Form (CM 00 60). Like CM 60 02, it insures recorded shipments of securities sent by First Class or Certified Mail for a flat charge per package rather than a premium based on reported values; its coverage is narrower than CM 60 02.
Who needs it
Mailers of securities who accept narrower terms in exchange for a lower per-package charge.
Quoting and selling notes
Compare the specimen wording of CM 60 02 and CM 60 03 with the underwriter before choosing; the difference lies in which property and losses are covered. Shipments must still be recorded before mailing.
