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FMCSA bans Hand-Held Cell Use by Drivers of Buses and Large Trucks As of January 3, 2012, commercial drivers are prohibited from using a hand-held mobile phone while operating a commercial truck or bus. Drivers who violate the restricions may be fined up to $2750 and prohibited from operating a commercial vehicle in the event of multiple offenses. Follow the link to read the first-hand account from the Federal Motor Carrier Safety Administration. Link Check out our Complimentary Guides & Forms for additional assistance regarding the use of cell phones in your business! |
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- JOINT AND SURVIVOR ANNUITY
- An annuity with two annuitants, usually spouses. Payments continue until the death of the longest living of the two.
- JOINT UNDERWRITING ASSOCIATION / JUA
- Insurers which join together to provide coverage for a particular type of risk or size of exposure, when there are difficulties in obtaining coverage in the regular market, and which share in the profits and losses associated with the program. JUAs may be set up to provide auto and homeowners insurance and various commercial coverages, such as medical malpractice. (See Assigned risk plans; Residual market)
- JUNK BONDS
- Corporate bonds with credit ratings of BB or less. They pay a higher yield than investment grade bonds because issuers have a higher perceived risk of default. Such bonds involve market risk that could force investors, including insurers, to sell the bonds when their value is low. Most states place limits on insurers' investments in these bonds. In general, because property/casualty insurers can be called upon to provide huge sums of money immediately after a disaster, their investments must be liquid. Less than 2 percent are in real estate and a similarly small percentage are in junk bonds.
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