2. [8 points) Radley Corporation, a manufacturer of small home appliances, is insured under a CGL policy written on an occurrence basis. The following limits of insurance apply: $2,000,000 General aggregate $2,000,000 Products-completed operations aggregate Personal and advertising injury $1,000,000 Each occurrence $1,000,000 Damage to premises rented to you Medical expense $10,000 $100,000 What dollar amount, if any, will Radley's CGL insurer pay for each of the following losses that occurred during the policy period? If a loss is not covered, or not fully covered, explain why. Assume that each loss would be paid in the order presented. 1) Radley Corporation places an advertisement in a national magazine that made inaccurate and unfavorable statements about a competitor's product. The competitor sued Radley for libel and was awarded $1,500,000 in court. 2) A warehouse leased to Radley was destroyed by a fire that resulted from Radley's negligence. Radley was legally liable for the resulting $250,000 in damage. 3) A defective Radley product caused serious injury to a consumer, who was awarded $400,000 by the court. The injury occurred after the customer took the product to her home. 4) Radley hosted a holiday party for its employees. An employee who became intoxicated at the party struck and killed a pedestrian while driving home. A court ordered Radley to pay $2,100,000 to the pedestrian's surviving family members