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A regional airline, XYZ Airways, has a primary aviation liability policy and a corresponding excess policy, each with the following limits. Each Occurrence Aggregate Primary
A regional airline, XYZ Airways, has a primary aviation liability policy and a corresponding excess policy, each with the following limits. Each Occurrence Aggregate Primary $2,000,000 $10,000,000 Excess $5,000,000 $15,000,000 During the first nine months of policy year 20xx, XYZ had four occurrences in which it was found liable for damages. The first occurrence was for $2,000,000. The second occurrence was for $7,000,000, the third occurrence was for $7,000,000, and the fourth occurrence was for $7,000,000. In the fourth quarter of 20xx, XYZ suffered yet another occurrence, this one for $12,000,000. How much would the primary insurer and the excess insurer each pay for the final loss in the fourth quarter?\
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