Liberty Insurance Underwriters, Inc. v. Weitz Co.

OPINION

JOHNSEN, Judge.

¶ 1 Arizona law requires that certain property damage insurance policies conform to terms recited in a published form called the “Arizona Standard Fire Policy.” By statute, however, “inland marine insurance” policies are exempt from the Arizona Standard Fire Policy requirements. In this case we consider whether a builder’s risk insurance policy constitutes “inland marine insurance” and thereby is exempt from the Arizona Standard Fire Policy requirements. For the reasons that follow, we hold that the builder’s risk policy at issue is an inland marine policy within the…