5. A manufacturing company is insured under 2 CGL policies. The each occurrence limit under Policy A is $500,000. Under Policy B, the each occurrence limit is $1,000,000. The company was held to be legally liable for $300,000 in damages arising from one occurrence.

a. What dollar amount would be payable under each policy if loss payment is based on contribution by limits? Show your calculations.

b. What dollar amount would be payable under each policy if loss payment is based on contribution by equal shares? Show your calculations