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7. What is the purpose of co-insurance? 8. Is co-insurance involved in general liability or property insurance? Please calculate the following co-insurance equations: 9. Amount

7. What is the purpose of co-insurance?

8. Is co-insurance involved in general liability or property insurance?

Please calculate the following co-insurance equations:

9. Amount of insurance carried is $450,000

Amount of insurance required is $500,000

The loss is $100,000

What is the amount of recovery?

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