Property insurance

The geographical location of the insured property (experience shows that metropolitan and urban areas have a crime incidence which is above average for the UK) and... 

Reasonable Precautions Condition under which the client is required to take reasonable precautions to safeguard the insured property and secure the premises, including the installation, use and maintenance of any security precautions stipulated or agreed with the insurance company. 

Climate change will affect, and in some cases is already affecting, most major types of insurance products. Insurers will feel the impact of climate change on property and casualty insurance, where the insurer bears the risk of a loss suffered directly by the policy holder. These property and casualty claims include not only damage to insured property as a direct result of weather but also claims for business interruptions and other consequences of weather-induced events. Also, health and life insurers are going to face increasing costs. 

Hydrogen production and PV electricity prices are presented in terms of levelized prices. Levelized price is the constant revenue stream that recovers all capital investments (equity and debt) at the required rates of return and covers annual O M expenses, insurance, property tax, and income taxes over the assigned capital recov-... 

When considering taxes, all types need to be considered initial fees, capital value, corporate rate, personal income tax, sales tax, property tax, unemployment insurance, workmen s compensation, and nuisance tax. During the constmction phase, several types of taxes may be levied. These include building permits, special fees, assessments, and sewer connection fees. 

The manufacturing cost consists of direct, indirect, distribution, and fixed costs. Direct costs are raw materials, operating labor, production supervision, utihties, suppHes, repair, and maintenance. Typical indirect costs include payroll overhead, quaHty control, storage, royalties, and plant overhead, eg, safety, protection, personnel, services, yard, waste, environmental control, and other plant categories. However, environmental control costs are frequendy set up as a separate account and calculated direcdy. The principal distribution costs are packaging and shipping. Fixed costs, which are insensitive to production level, include depreciation, property taxes, rents, insurance, and, in some cases, interest expense. 

Rapid Manufacturing-Cost Estimates Fixed manufacturing costs are a func tion of the fixed-capital investment and are independent of the production rate of the plant. Property taxes or rates depend on location. They may be taken as 2 percent of the fixed-capital cost of the plant in the absence of specific data. The cost of insurance depends on both location and the hazardous nature of the materials handled. This cost is normally of the order of 1 percent of the fixed-capital cost of the plant. 

Let us consider a plant of fixed-capital cost Cfc- If the annual property taxes are taken as 0.02 Cfc, insurance as 0.01 Cfc, and maintenance as 0.06 Cfc, the annual investment-related cost woiild be 0.09 Cfc- Annual utilities cost is A. The annual processing cost Ap can be represented by... 

B) Comprehensive General Liahility Insurance (including contractual lia-hility, products, and completed operations) with a hodily injury, death, and property damage combined single limit of (X) per occurrence and... 

General recommendations for spacing General Recommendations for Spacing in Refineries, Petrochemical Plants, Casoline Plants, Terminals, Oil Pump Stations and Offshore Properties (Oil Insurance Association, No. 361)... 

The high temperatures required for phenolic cure are generally viewed as positive characteristics, as they insure that the phenolic does not cure at normal room-temperature storage conditions. This keeps the adhesive soft so that it retains the desired adhesive properties. 

The explosion killed two workers, injured 350 local residents, destroyed property up to 20 miles away, and damaged 50% of Henderson s 17,000 residential and commercial buildings. The two largest blasts registered 3.0 ajid 3.5 on the Richter scale hundreds of miles away in Cdifomia, cars were crumpled, doors blown off their hinges, and windows shattered for miles around. Uninsured losses were more than 20 million, plus 3 million more in insurance deductibles. Just as serious, were the psychological and emotional impact of the explosions, on schoolchildren and adults. 

Industrial Risk Insurers. Oil and Chemical Properties Loss Potential Estimation Guide. IRI-Information February I, 1990. 

The requirements of the property insurers must also be adhered to if potentially adverse impact to premiums is to be avoided. 

The policy cover may be extended to include damage to assets from extra perils if the necessary additional premium is paid. These include storm damage, floodwater, burst water pipes or tanks, aircraft, riot, malicious damage or impact by mechanical vehicles. It is also possible to include an item to cover architects , surveyors and consultants fees and legal fees all incurred in the reinstatement of the property insured, as well as a sum to cover the costs of removing debris from the site before rebuilding can start. 

Fire is the major insurable risk to property on land. Each industry, trade or manufacturing process has its own fire problems. There are, in addition, causes of fire which are found in all occupancies (e.g. arson, smoking, and misuse of electricity). With such a wide field, it is only possible to touch lightly on the many important aspects of the subject. 

The property owner is responsible for establishing the figure for which the assets are insured. This must be a realistic assessment of the value, as insurers settle claims... 

The basic theft policy covers the property insured against loss, destruction or damage by theft or attempted theft involving ... 

In some instances, special terms may be applied. For example, where the insurance company requires the installation of an intmder alarm, the protected premises must be attended unless the alarm is put into full operation. In other cases, cover under the policy may apply only when the property insured is left within agreed and designated areas. 

In terms of environmental exposure, water and humidity must be carefully evaluated in electrical applications. In general, if a plastic absorbs a significant amount of water, the electrical resistivity drops. As examples this is the case for nylons and phenolic. Care must be used in selecting a dielectric to insure that the electrical properties such as the insulation resistance and dielectric strength, as well as other electrical properties are adequate under the conditions of field use, particularly if this involves exposure to high humidity conditions. Temperature also causes changes in most electrical products. 

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