What it does
Carrier forms schedules list IH 00 87 as the Fine Arts Museums Coverage Form. 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
Museums insuring permanent collections and works borrowed for exhibitions; lenders typically require wall-to-wall coverage for loans.
Quoting and selling notes
Ask for collection value, loan agreements and the values they require, exhibition and transit schedules, climate control, security and fire protection.
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.
