Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

8. ABC Corporation has a BIC with an agreed value of $200,000. If ABC carries insurance of $200,000 or more, its covered losses will be

image text in transcribed
8. ABC Corporation has a BIC with an agreed value of $200,000. If ABC carries insurance of $200,000 or more, its covered losses will be paid in full, without any possibility of a coinsurance penalty, up to the amount of insurance. However, if ABC carries only S150,000 of insurance, the loss payment 1S 9. If the business is suspended for three months following the start of the restoration period, and the atual loss of income is $30,000 for each of those months. If the fraction shown in the declarations is 1/4 and the policy limit is S100,000. What is the loss payment in total? 10. List four coverages of the BIC that do not increase the limit of insurance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Derivatives And Internal Models

Authors: H. Deutsch

4th Edition

1349307661, 9781349307661

More Books

Students also viewed these Finance questions

Question

A 300N F 30% d 2 m Answered: 1 week ago

Answered: 1 week ago