After a fire loss at Brad's Southern Bar-B-Que restaurant it was discovered that Brad actually carried two policies covering the premises, a Building and Personal Property (BPP) policy with ABC Insurance Co. and an Inland Marine (IM) policy covering rented kitchen equipment from XYZ Insurance Co. How would the claim be settled? The IM policy would pay first and the BPP would pay any loss exceeding the IM policy up to the BPP policy limit ) The BPP would pay first and the IM would pay any loss exceeding the BPP policy up to the IM policy limit Each policy would pay one-half of the amount of the loss O The policies would share the loss based on the proportion their limits have to the total amount of insurance carried