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Why Has the Cost of Product Liability Insurance Risen So

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Why has the cost of product liability insurance risen so dramatically?


Definitions:

Equitable Distribution

A principle used in divorce law for the fair and just division of property between spouses.

Macro Social Environment

The broader societal context in which individuals and organizations operate, encompassing cultural, economic, legal, and political forces.

Political Ideology

A set of ethical ideals, principles, doctrines, myths, or symbols of a social movement, institution, class, or large group that explains how society should work, and offers some political and cultural blueprint for a certain social order.

Social Status

The position or rank of a person or group within the social hierarchy, often determined by wealth, occupation, or other social markers.

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