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In electrical and safety engineering, hazardous locations (HazLoc, pronounced haz·lōk) are places where fire or explosion hazards may exist. Sources of such hazards include gases, vapors, dust, fibers, and flyings, which are combustible or flammable. Electrical equipment installed in such locations can provide an ignition source, due to ...
The effects of climate change on extreme weather events is requiring the insurance industry in the United States to recalculate risk assessments for various insurance policies. [1] [2] From 1980 to 2005, private and federal government insurers in the United States paid $320 billion in constant 2005 dollars in claims (or about $499 billion in ...
A thermostat is a regulating device component which senses the temperature of a physical system and performs actions so that the system's temperature is maintained near a desired setpoint . Thermostats are used in any device or system that heats or cools to a setpoint temperature.
Parametric insurance (also called index-based insurance) is a non-traditional insurance product that offers pre-specified payouts based upon a trigger event. [1] Trigger events depend on the nature of the parametric policy and can include environmental triggers such as wind speed and rainfall measurements, business-related triggers such as foot ...
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective. [ 1][ 2] Such a loss may be an "actual total loss" or a "constructive total loss".
a thermostat to control temperature by varying the amount of coolant going to the radiator; a fan to draw cool air through the radiator. The combustion process produces a large amount of heat. If heat were allowed to increase unchecked, detonation would occur, and components outside the engine would fail due to excessive temperature. To combat ...
Knock-for-knock agreement. A knock-for-knock agreement is an agreement between two insurance companies whereby, when both companies' policy-holders incur losses in the same insured event (usually a motor accident), each insurer pays the losses sustained by its own policy-holder regardless of who was responsible.
Google Maps. CarShield, a company that sells vehicle service contracts to automobile owners that it claims will cover the cost of certain repairs, has agreed to pay $10 million in a settlement ...