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Member, Beacon International Group, Ltd.
Mariana Islands' Commonwealth Ports Authority is planning to revise regulations on aviation insurance coverage, Marianas Variety reported.
Existing rules require $5 million in coverage per aircraft operator, and the draft amendments would increase that to $10 million. CPA legal counsel Robert T. Torres, in his presentation to the board, spoke about the authority's compliance with its bond covenant, which calls for maintaining insurance that is comparable to other "prudent airport operators," reports Marianas Variety.