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A company has three buildings and the corresponding insurance: (i) building A is covered by a property insurance of which maximum indemnity is $10,000;
A company has three buildings and the corresponding insurance: (i) building A is covered by a property insurance of which maximum indemnity is $10,000; (ii) building B is covered by a property insurance of which maximum indemnity is $5,000; and building C is covered by a valued policy of which sum insured is $10,000. Unfortunately, all three buildings were damaged by a covered peril, and the value of each building decreased from $9116 to $1593. How much is the company paid by the three policies? a) $20,775.52 b) $20,046.00 c) $22,569.00 d) None of the answers provided e) $25,000.00
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