What it does
Carrier forms schedules list IH 00 74 as the Commercial Fine Arts Coverage Form, and ISO's Theft From Unattended Vehicle Exclusion (IH 99 23) lists the Commercial Fine Arts Coverage Form among the IH forms it modifies. It is the IH-series counterpart to ISO's filed CM 00 42. ISO publishes this form in its IH series of commercial inland marine forms. IH forms are used within the Commercial Inland Marine Coverage Part, together with the Commercial Inland Marine Conditions (CM 00 01) and the Common Policy Conditions.
Who needs it
Organizations displaying valuable art in offices, lobbies and guest areas, or holding art of others on loan.
Quoting and selling notes
Ask for appraisals, display conditions, loans to and from others, transit and breakage exposure. When a carrier offers both CM 00 42 and IH 00 74, compare additional coverages and breakage terms.
Before presenting it
ISO's IH forms are often adopted with carrier changes, and their wording differs from the filed CM forms. Obtain the carrier's specimen and walk the insured through covered property, property not covered, the exclusions, valuation, the deductible and any coinsurance or reporting condition, and match the limits to a current schedule of values.
