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| statutory limit insurance
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| The following is a list
of the various relevant state, territory and province
liability minimums. In each case the applicable law expresses these minimums
in terms of split limits. For example, a reading of "25/50/10" means
that the law requires that the insurance provide at least $25,000 for
bodily injury to each person, $50,000 for the sum of bodily injuries,
and $10,000 for property damage, per accident. Certain of these laws
alternatively determine a combined single limit (CSL). For instance, a reading of
"15/30/10 or 40" signifies that an insurance policy with a CSL
of $40,000 is minimally satisfactory; such limit means that the
insurance will pay up to $40,000 for all bodily injury and property
damage consequent of each accident. The limits for the Canadian
provinces are expressed as such singular limits only.
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