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  2. These states are increasing minimum coverage ... - AOL

    www.aol.com/finance/states-increasing-minimum...

    The phrase refers to the lowest amount of liability car insurance coverage that drivers must carry according to state laws. You may have seen numbers listed on your policy, such as 30/60/15.

  3. Increased limit factor - Wikipedia

    en.wikipedia.org/wiki/Increased_limit_factor

    Often, limited data is available to determine appropriate charges for high limits of insurance. In order to price policies with high limits of insurance adequately, actuaries may first determine a "basic limit" premium and then apply increased limits factors. The basic limit is a lower limit of liability under which there is a more credible ...

  4. Limitation of Liability Act of 1851 - Wikipedia

    en.wikipedia.org/wiki/Limitation_of_Liability...

    In United States maritime law, the Limitation of Liability Act of 1851, codified as 46 U.S.C. § 30523 since December 2022, states that the owner of a vessel may limit damage claims to the value of the vessel at the end of the voyage plus "pending freight", as long as the owner can prove it lacked knowledge of the problem beforehand.

  5. How much boat can I afford? 3 steps to calculate your budget

    www.aol.com/finance/much-boat-afford-3-steps...

    Boat prices vary depending on the model, make, size, features and condition. For instance, an 18- to 25-foot used pontoon can cost between $8,000 and $12,000 .

  6. Marine insurance - Wikipedia

    en.wikipedia.org/wiki/Marine_insurance

    A co-insurance, which typically governs non-proportional treaty reinsurance, is an excess expressed as a proportion of a claim in percentage terms and applied to the entirety of a claim. Co-insurance is a penalty imposed on the insured by the insurance carrier for under reporting/declaring/insuring the value of tangible property or business income.

  7. How does auto liability work?

    www.aol.com/finance/does-auto-liability...

    The liability limits vary from state minimum coverage up to 250/500/100. ... least your state’s minimum liability insurance requirements plus ... analyze 2023 rates for ZIP codes and carriers in ...

  8. Protection and indemnity insurance - Wikipedia

    en.wikipedia.org/wiki/Protection_and_indemnity...

    Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. [1] Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure.

  9. National Association of Insurance Commissioners - Wikipedia

    en.wikipedia.org/wiki/National_Association_of...

    The NAIC is an Internal Revenue Code Section 501(c)(3) non-profit organization. The NAIC acts as a forum for the creation of model laws and regulations. Each state decides whether to pass each NAIC model law or regulation, and each state may make changes in the enactment process, but the models are widely, albeit somewhat irregularly, adopted.

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