IM 7550 Bailee Customers Floater Coverage - Dry Cleaners And Laundry Form

An American Association of Insurance Services (AAIS) standard form. Bailee coverage form for dry cleaners and laundries covering customers' garments, rugs, drapes and similar articles in your care for processing or storage, against risks of direct physical loss unless excluded, with extensions and supplemental coverages.

1. 05 11 edition

   May 2011, compared with 06 04Latest edition

   • The optional earthquake and flood supplemental coverages are removed, and earth movement and flood are excluded.

     06 04

     “Earthquake Coverage -- If coverage is indicated on the "schedule of coverages"”

     05 11

     Removed

   • Sewer backup and water below the surface coverage no longer depends on the schedule. It applies up to $2,500 per occurrence and excludes loss from missing sump pumps or poor maintenance of sumps, sewers and drains.

     06 04

     “Sewer Backup Coverage -- If coverage is indicated on the "schedule of coverages"”

     05 11

     “escape of water or waterborne material from a sump pit not equipped with a sump pump”

   • The processing work exclusion is replaced by a broader exclusion for any error or omission during processing, including work subcontracted to others.

     06 04

     “loss to property of others caused by any processing or other work upon the property”

     05 11

     “error or omission during "processing"”

   • Consequential loss of any kind is now excluded along with loss of use, delay and loss of market.

     06 04

     Not in this edition

     05 11

     “"We" also do not pay for any consequential loss or damage of any nature.”

1 other edition date appears in one or two filings each, often carrier-specific versions: Ed. 1.0.

• Edition in use: in the past 12 months, 1 company filed the 06 04 edition.
• IM 74 00 (Fine Arts Floater Coverage) is filed alongside it most often, in 58 of the same filings (91%).

Data from admitted P&C filings with state insurance departments, submitted Oct 2021 to Mar 2026, excluding withdrawn and rejected filings. One filing can cover several affiliated companies.

• Liberty Mutual GroupUses IM 7550 in 1 filing

• IM 74 00Fine Arts Floater Coverage58 filings
• IM 75 01Miscellaneous Bailee - Processor Floater58 filings
• IM 75 07Schedule Of Coverages - Miscellaneous Bailee - Processor Floater55 filings
• IM 70 00Contractors' Equipment Coverage52 filings
• IM 70 03Contractors' Equipment Coverage - Small Tools Floater52 filings
• IM 71 00Installation Floater Coverage52 filings
• IM 72 01Computer Coverage52 filings
• IM 70 13Equipment Leased or Rented To Others Endorsement51 filings
• IM 70 14Rental Reimbursement Endorsement51 filings
• IM 70 17Weight of Load Exclusion51 filings