1. Fran is applying for a new job as a Commercial Property underwriter, and since she already has the experience, she is asked by the Underwriting Manager in the interview, to describe a couple of ways to insure a risk, where the company wants to insure the risk, but does not want to provide coverage for the full amount of the limit, (i.e.: building value) needed by the insured.

Describe and explain two methods that Fran would mention to the manager, about how the company could accomplish this, in order to meet its requirement. (10 marks)