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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 ...
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".
Auto repair costs, while up 3.4% compared to a year ago, have cooled significantly from last July when they were rising at a 12.7% rate annually, according to CPI data. With both those costs ...
No-fault systems generally exempt individuals from the usual liability for causing bodily injury if they do so in a car collision; when individuals purchase "liability" insurance under those regimes, the insurance covers bodily injury to the insured party and their passengers in a car collision, regardless of which party would be liable under ordinary legal tort rules.
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 ...
Code 1: A time critical case with a lights and sirens ambulance response. An example is a cardiac arrest or serious traffic accident. Code 2: An acute but non-time critical response. The ambulance does not use lights and sirens to respond. An example of this response code is a broken leg. Code 3: A non-urgent routine case. These include cases ...
Weather insurance insures against weather variations. There are two insurable types of weather insurance: conditional weather insurance and weather cancellation insurance . The integration of advanced technologies such as AI in the insurance industry is influencing the field of weather insurance. According to a recent industry report, these ...
The IP code or ingress protection code indicates how well a device is protected against water and dust. It is defined by the International Electrotechnical Commission (IEC) under the international standard IEC 60529 [ 1 ] which classifies and provides a guideline to the degree of protection provided by mechanical casings and electrical ...