Question
2. Refer to a property insurance coverage. According to experience, we can assume that the loss amount may take the following values: 10, 50,
2. Refer to a property insurance coverage. According to experience, we can assume that the loss amount may take the following values: 10, 50, 100, 200, 500, 1000, 10 000 euro. For each possible value of the loss, calculate the claim amount according, alternatively, to the following policy conditions: (a) full refunding; (b) underinsurance. The value insured is 85% of the value of the property; (c) first loss, with limit value 2000 euro; (d) first loss and underinsurance, with limit value 2000 euro and an insured value which is 85% of the value of the property; (e) franchise deductible 25 euro; (f) fixed-amount deductible 25 euro; (g) first loss, with limit value 2000 euro and fixed-amount deductible 25 euro.
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