Senior Smart Aleck
Join Date: Aug 2009
Location: Richmond, Virginia
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Re: Sailboat perishes off Hatteras, USCG rescues crew
My point, which was partly in jest, is that a particular company that suffers sufficiently significant losses will have to raise premiums.
Losing a $500K boat, assuming its a complete loss, will be a significant hit for whichever company insured it.