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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 basic limit is a lower limit of liability under which there is a more credible amount of data. [2] For example, basic limit loss costs or rates may be calculated for many territories and classes of business. At a relatively low limit of liability, such as $100,000, there may be a high volume of data that can be used to derive those rates.
Adjustment of claims is not confined to claims against insurance companies. An allowance made by a creditor, particularly a storekeeper , in response to a complaint by the debtor respecting the accuracy of the account or other claim, or a reduction in the claim or account made to induce a prompt payment, is in a proper sense an adjustment.
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 ...
And in 1990, the U.S. enacted the Dolphin Safe label law, which the International Marine Mammal Project explains "permits the use of a Dolphin Safe tuna label only for tuna caught without any ...
Thermal cutoff. An assortment of thermal fuses. A thermal cutoff is an electrical safety device (either a thermal fuse or thermal switch) that interrupts electric current when heated to a specific temperature. These devices may be for one-time use (a thermal fuse), or may be reset manually or automatically (a thermal switch).
Personal injury protection (PIP) is an extension of car insurance available in some U.S. states that covers medical expenses and, in some cases, lost wages and other damages. PIP is sometimes referred to as "no-fault" coverage, because the statutes enacting it are generally known as no-fault laws, and PIP is designed to be paid without regard ...
The process requires a deliberate step-by-step approach: Contact your homeowners insurance company or agent as soon as possible and carefully complete and submit the required claim forms. Gather ...