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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.
Failure to do so is known as non-disclosure or concealment (there are minor differences in the two terms) and renders the insurance voidable by the insurer.:§33(3): If [a warranty] be not [exactly] complied with, then, subject to any express provision in the policy, the insurer is discharged from liability as from the date of the breach of ...
The Convention on Limitation of Liability for Maritime Claims is an IMO treaty that was concluded in London in November 1976. It entered into force in 1986, and superseded the 1957 Brussels Convention of the same name. As of October 2016, 54 states are party to the convention. [1]
New minimum car insurance liability limits: 50/100/25. Change effective Jan. 1, 2025. The 2025 minimum coverage increase is phase two of Virginia’s car insurance overhaul. Up until June 2024 ...
⚠️ A financially sound full-coverage policy should include liability limits well above your state's minimum requirements. ... condo or renters insurance as well as motorcycle, boat, ...
Boat insurance: It typically costs around 1 to 5 percent of the boat’s value. So, using the example above, the average annual cost of insurance for a $20,000 boat would be between $200 and ...
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