M1
Insurance .
Pos: 250 Max: 1
Heading - Optional
Loop: N/A Elements: 12
.

To specify details related to insurance Element Summary:

                     
  _Ref_ Id _________Element Name__________ Req Type Min/Max ___Usage___  
  M101 26 Country Code M ID 2/3 Must use  
      Description: Code identifying the country
  M102 14 Carriage Value O N0 2/8 Used  
      Description: Carriage value expressed in whole units of the standard monetary denomination for the currency specified
  M103 74 Declared Value O N2 2/12 Used  
      Description: Monetary assigned value expressed in the standard monetary denomination for the currency specified
  M104 122 Rate/Value Qualifier O ID 2/2 Used  
      Description: Code qualifying how to extend charges or interpret value
      All valid standard codes are used.
  M105 98 Entity Identifier Code O ID 2/3 Used  
      Description: Code identifying an organizational entity, a physical location, property or an individual
      All valid standard codes are used.
  M106 61 Free-Form Message O AN 1/30 Used  
      Description: Free-form information
  M107 122 Rate/Value Qualifier C ID 2/2 Used  
      Description: Code qualifying how to extend charges or interpret value
      All valid standard codes are used.
  M108 782 Monetary Amount C R 1/18 Used  
      Description: Monetary amount
  M109 1004 Percent Qualifier C ID 1/2 Used  
      Description: Code to qualify percent
      All valid standard codes are used.
  M110 954 Percent C R 1/10 Used  
      Description: Percentage expressed as a decimal
  M111 1004 Percent Qualifier C ID 1/2 Used  
      Description: Code to qualify percent
      All valid standard codes are used.
  M112 954 Percent C R 1/10 Used  
      Description: Percentage expressed as a decimal

Syntax:
1. M107 P0708 -- If either M107 or M108 are present, then the others are required.
2. M109 P0910 -- If either M109 or M110 are present, then the others are required.
3. M111 P1112 -- If either M111 or M112 are present, then the others are required.

Semantics:
01. M101 is the code identifying the country in whose currency the insurance is specified.
05. M105 (organization identifier) is the code for the beneficiary of the insurance policy. 
06. M106 is free-form information used to describe the type of insurance coverage.

Comments:
07. M107 through M112 may be used to specify the values to be used in insurance formulas. For example: M107 and M108 may specify the basis of application and the premium rate ($0.25 per hundred), M109 and M110 may specify the value at which insurance is to be obtained (insure at 110% of bill of lading value), and M111 and M112 may specify the premium rate (rate of .015 per dollar).

Transaction Set
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