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A woodcarving business owns a warehouse and it is destroyed by a fire. The damage is worth $456,000. The replacement cost is $900,000, and 2
A woodcarving business owns a warehouse and it is destroyed by a fire. The damage is worth $456,000. The replacement cost is $900,000, and 2 companies split the insurance coverage. Company A has agreed to $600,000 worth of insurance coverage and Company B has agreed to $200,000 worth of insurance coverage. Find the amount that each insurance company will pay. assuming management had full coverage and a coinsurance clause. O Co A $324,000, Co B $114,000 O Co A $324,000, Co B- $141.000 O Co A $342,000, Co B $114,000 O CoA $342,000, Co B- $141,000
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