2. Reem had a medical health insurance policy with a $300 calendar year deductible and a 25% coinsurance clause. She needed medical treatment that cost $14,000. How much will she pay? (1 mark) 3. A dry-cleaning business is insured for $121,500. The insurance policy contains a 90% coinsurance clause. During the night, a fire started and caused damages to the property in the amount of $70,000. The value of the dry-cleaning business at the time of loss was $150,000. How much will the insurer pay for the loss? c mrk) 4. Describe the following insurance company operations. I a. What is rate making. Explain the regultory and business ratemaking objectives, a b. What is underwriting. Explain the basic principles and the steps in underwriting, a mark) c. What is loss adjusting. Explain the objectives and the steps in claim settlement, a mark) 5. Capital One insures 216,400 cars in one country. The company expects to pay $22,072,800 in incurred losses and loss adjustment expenses for insured damages to these cars. Based on their previous expense ratio, the insurer wants to allow for 25% for other expenses, profit, and a margin for contingencies. What is the gross premium paid by the insureds? a) ST ORAN