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all informations are in question This is i have all informtion, I want answer a question number 3 please? 3. Ace Insurance Company has a
all informations are in question
This is i have all informtion, I want answer a question number 3 please?
3. Ace Insurance Company has a Pro-Rata Surplus Share Treaty for all of their Tavern Owners Policies. Each line is $50,00 and the treaty contains 12 lines, allowing Farm insurance Company the ability to write property limits of up to $600,00.(each line is $50,000) A: As the result of a bar fight, a motorcycle gang does $45,000 in damages to a tavern insured for $500,000. B: A tavern insured for $400,000. Is heavily damaged when a drunken driver smashes his car into the front of the building. The damages total $300,000. 3. Ace Insurance Company has a Pro-Rata Surplus Share Treaty for all of their Tavern Owners Policies. Each line is $50,00 and the treaty contains 12 lines, allowing Farm insurance Company the ability to write property limits of up to $600,00.(each line is $50,000) A: As the result of a bar fight, a motorcycle gang does $45,000 in damages to a tavern insured for $500,000. B: A tavern insured for $400,000. Is heavily damaged when a drunken driver smashes his car into the front of the building. The damages total $300,000. Reinsurance Exercise Name: Ace Insurance Company relies heavily on reinsurance. They usually insure through Markup Reinsurance Company. 1. Ace has a Pro-Rata Quota Share Treaty for their seasonal dwelling insurance program. The treaty stipulates that there will be an 25%/75% split on all losses under this program. A. If a tornado totally destroys a seasonal dwelling valued at $125,000. What does the primary company and the reinsurance Company pay? 2. Ace has an Excess of Loss Per Occurrence or Catastrophe** Treaty for the mobile homes they insure in the state of Texas. The attachment point, when the primary company's losses are paid by the reinsurer, is $1,000,000. And the Reinsurance Limit is $2,000,000. A. A wildfire wipes out a mobile home park where Ace insured 110 mobile homes. The total losses from this single event will reach $3,300,000. How much will Ace pay and what will Markup Reinsurance pay? 3. Ace Insurance Company has a Pro-Rata Surplus Share Treaty for all of their Tavern Owners Policies. Each line is $50,00 and the treaty contains 12 lines, allowing Farm insurance Company the ability to write property limits of up to $600,00 (cach line is $50,000). A: As the result of a bar fight, a motorcycle gang does $45,000 in damages to a tavern insured for $500,000. B: A tavern insured for $400,000. Is heavily damaged when a drunken driver smashes his car into the front of the building. The damages total $300,000. 3. Ace Insurance Company has a Pro-Rata Surplus Share Treaty for all of their Tavern Owners Policies. Each line is $50,00 and the treaty contains 12 lines, allowing Farm insurance Company the ability to write property limits of up to $600,00.(each line is $50,000) A: As the result of a bar fight, a motorcycle gang does $45,000 in damages to a tavern insured for $500,000. B: A tavern insured for $400,000. Is heavily damaged when a drunken driver smashes his car into the front of the building. The damages total $300,000. 3. Ace Insurance Company has a Pro-Rata Surplus Share Treaty for all of their Tavern Owners Policies. Each line is $50,00 and the treaty contains 12 lines, allowing Farm insurance Company the ability to write property limits of up to $600,00.(each line is $50,000) A: As the result of a bar fight, a motorcycle gang does $45,000 in damages to a tavern insured for $500,000. B: A tavern insured for $400,000. Is heavily damaged when a drunken driver smashes his car into the front of the building. The damages total $300,000. Reinsurance Exercise Name: Ace Insurance Company relies heavily on reinsurance. They usually insure through Markup Reinsurance Company. 1. Ace has a Pro-Rata Quota Share Treaty for their seasonal dwelling insurance program. The treaty stipulates that there will be an 25%/75% split on all losses under this program. A. If a tornado totally destroys a seasonal dwelling valued at $125,000. What does the primary company and the reinsurance Company pay? 2. Ace has an Excess of Loss Per Occurrence or Catastrophe** Treaty for the mobile homes they insure in the state of Texas. The attachment point, when the primary company's losses are paid by the reinsurer, is $1,000,000. And the Reinsurance Limit is $2,000,000. A. A wildfire wipes out a mobile home park where Ace insured 110 mobile homes. The total losses from this single event will reach $3,300,000. How much will Ace pay and what will Markup Reinsurance pay? 3. Ace Insurance Company has a Pro-Rata Surplus Share Treaty for all of their Tavern Owners Policies. Each line is $50,00 and the treaty contains 12 lines, allowing Farm insurance Company the ability to write property limits of up to $600,00 (cach line is $50,000). A: As the result of a bar fight, a motorcycle gang does $45,000 in damages to a tavern insured for $500,000. B: A tavern insured for $400,000. Is heavily damaged when a drunken driver smashes his car into the front of the building. The damages total $300,000 Step by Step Solution
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