Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Ai A primary insurer (now insolvent) had an adjusted loss before insolvency of $400,000, but the loss was not paid to the claimant. The liquidator
Ai A primary insurer (now insolvent) had an adjusted loss before insolvency of $400,000, but the loss was not paid to the claimant. The liquidator paid the claimant $300,000, or 75% of the loss. The primary insurer had excess of loss reinsurance for $400,000 excess of $100,000. Payment without diminution requires that the excess of loss reinsurer pay what amount? Available answer options Select only one option A $200,000 B $225,000 C $300,000 D $325,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started