Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Mr. Cousins has 100/300 bodily injury insurance. He was in an auto accident caused by his negligence. Five people were injured in the accident.

image text in transcribed
1. Mr. Cousins has 100/300 bodily injury insurance. He was in an auto accident caused by his negligence. Five people were injured in the accident. They sued in court and were awarded money. One persolitwas awarded $150,000, and each of the other two was awarded $95,000. How much will the insurance company pay for these lawsuits? 2. Ronaldo has 50/250BI liability insurance. He loses control of his car and injures 18 children in a Little League game, and each child is awarded $20,000 as a result of a lawsuit. How much will the insurance company pay in total for this lawsuit? How much will Ronaldo be personally responsible for

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Modeling An Introductory Guide To Excel And VBA Applications In Finance

Authors: Joachim Häcker, Dietmar Ernst

1st Edition

1137426578, 978-1137426574

More Books

Students also viewed these Finance questions

Question

6. Have you used solid reasoning in your argument?

Answered: 1 week ago