What it does
CM 60 09 adds coverage under the Mail Coverage Form (CM 00 60) for negotiable securities sent under air bill of any carrier named in the declarations. It applies only to shipments between places in the United States, not to or from Alaska or Hawaii. The insured must declare to the carrier the actual value of the property, not less than market value on the shipping date.
Who needs it
Financial institutions that move negotiable instruments by air courier rather than through the postal service.
Quoting and selling notes
Name each air carrier used; shipments with other carriers are not covered. Confirm the shipping staff declares full value as required.
