What it does
Carrier forms schedules list IH 00 93 as the Processors Coverage Form. ISO also has an FDA spoilage endorsement written for processing coverage (IH 93 01). 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
Businesses whose goods spend time at outside processors where the owner's property policy coverage may be limited.
Quoting and selling notes
Ask for processors used, values at each, transit between sites, and whether processing errors are excluded.
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.
