Institute Cargo Clause 8 (1/1/82) incorporating the warehouse to warehouse clause. Cover attaches when the goods leave the warehouse, etc., at named place of origin, continues during the ordinary course of transit, and ceases on soonest of arrival at place of storage at named destination or 60 days after discharge. If the intended destination is altered after discharge, cover ceases on commencement of transit to new destination, unless it has already ceased under the above conditions. The clause allows for trans-shipment.
Insurance Encyclopedia
Transit coverage
Coverage of the insured’s property while in transit over land from one location to another. Property insurance policies typically provide coverage only at locations identified in the policy.
Transit insurance
See: Goods In Transit Insurance.
Transit Policy
Contractual coverage for loss or damage to merchandise while it is being moved.
Transit policy (Property Insurance)
A type of policy that covers property as it is transported between locations.
Transition program (Liability Insurance)
A set of rules within a commercial liability policy. These rules limit adjustments to the maximum and minimum premium amounts due to changes in the rating base.
Transitional bed
Bed in a skilled nursing facility for a patient who does not need intense observation as in an acute care unit. Also see intermediate care .
Transitional care
See: intermediate care .
transitional care center (TCC)
Facility used instead of or before discharge to an extended care facility.
Transitional pass-through payment
Under the Medicare outpatient prospective payment system (OPPS), certain drugs, biologicals, and devices are eligible for payments in addition to the ambulatory payment classification (APC) payment (i.e., the costs are passed through [around] the APC system).