What is the role of Bailee forms in Inland Marine Commercial Property coverage?

The role of Bailee forms in Inland Marine Commercial Property coverage is to provide coverage for property that is in the possession of others. This type of insurance specifically addresses situations where goods or personal property are temporarily entrusted to a bailee (a person or entity that has temporary custody of someone else's property), such as a dry cleaner, repair shop, or storage facility.

Bailee coverage is particularly important because the property owner’s insurance may not extend to items that are not in their possession. Therefore, this coverage protects the property owner against losses due to damage or loss while their property is being handled by a bailee. It ensures that the property is insured for the duration it is outside the owner's control, thereby minimizing potential financial losses.

While other options mention aspects related to insurance, they do not capture the specific purpose and importance of Bailee forms, which is fundamentally about covering clients' property when it is being held by others.