What it does

IM 7200 is AAIS's Electronic Data Processing Equipment Coverage form, adopted by carriers in AAIS-based programs (West Bend files it with state-specific suffixes). AAIS describes its EDP class as coverage for hardware, software and data compromise. AAIS (American Association of Insurance Services) publishes this form in its Inland Marine Guide, a multistate program of inland marine forms, rules and rating procedures that AAIS member insurers adopt. AAIS numbers its inland marine forms with the IM prefix and four digits, which distinguishes them from ISO's CM and IH forms.

Who needs it

Businesses whose computers, servers and networks are worth insuring separately from building contents, or that need coverage off premises and in transit.

Quoting and selling notes

Ask for equipment values by location, backup practices, power protection and whether data restoration and income loss are needed (IM 7215 covers EDP income). Compare with the ISO IH 00 75 if a carrier offers both.

Before presenting it

AAIS forms are available to member insurers, and carriers often add their own endorsements or edition changes. Obtain the carrier's specimen and review covered property, property not covered, exclusions, valuation, deductible and coinsurance or reporting conditions with the insured.

Related forms

IM 7215, IH 00 75.