- Assume your firm had an insured claim and the following situation:

• Your Firm owns a building with an actual cash value of $1,350,000
• The building, at the time of the loss was insured for $750,000
• The property insurance policy insuring the building has an 80% coinsurance provision
• The building was damaged by an insured peril last week and the repairs to the building will cost $580,000

How much will Your Firm receive from the insurance company in payment for the claim? Explain and show your computation.