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The term replacement cost or replacement value refers to the amount that an entity would have to pay to replace an asset at the present time, according to its current worth. [1] In the insurance industry, "replacement cost" or "replacement cost value" is one of several methods of determining the value of an insured item. Replacement cost is the ...
RLI Corp. is an American insurance company specializing in property insurance and casualty insurance. [2] It is headquartered in Peoria, Illinois. [2] [3]RLI conducts its operations primarily through four insurance subsidiaries — RLI Insurance Company, Mt. Hawley Insurance Company, [4] RLI Indemnity Company, and Contractors Bonding and Insurance Company.
This led to marine insurers competing in the fire insurance marketplace against fire insurance companies. Ultimately, the National Association of Insurance Commissioners in the United States regulated the situation, adopting a Nationwide Marine Definition in 1933 which laid out what types of property were eligible for "inland marine" insurance ...
Hatch cover clearance – Hatch cover clearance refers to how many "High Cube" (height over 8.6 ft (2.6 m)) containers allowed to load in the hold without preventing the hatch cover from closing correctly. [3] Visibility – The number of High cube containers shouldn't exceed a set number of High cube containers in each row/bay on-deck.
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.
Utopia is a planned luxury residential ocean liner project. A formal marketing launch of the ship, reportedly costing US$1.1 billion, was expected in 2021. [2] The ship was originally planned to launch in 2017 but lack of funding got in the way and the binding letter of intent to build Utopia was amended in 2017. [3]
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