What is the purpose of a three bolt clamp?

A three-bolt clamp is normally used for horizontal insulated piping, which utilizes clamping bolts to attach the clamp to the pipe and a separate Load Bolt to transfer the piping weight to the remainder of the Pipe Hanger Assembly from a point outside the insulation.
66 diameter three bolt pipe clamp 5185355515 o
Three-bolt Pipe Clamps

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