What does Nonfiled Line of Coverage mean? Read on to discover the definition & meaning of the term Nonfiled Line of Coverage - to help you better understand the language used in insurance policies.
Nonfiled Line of Coverage
A coverage line for which state insurance regulators in many states do not require insurers to submit their coverage forms and rates for approval. Many types of inland marine coverage, including builders risk and contractors equipment coverage, are nonfiled lines of coverage. The exposures addressed by the nonfiled coverage lines generally are considered too unique or diverse to reasonably require insurers to insure them on other than a case-by-case basis.
We hope the you have a better understanding of the meaning of Nonfiled Line of Coverage.