Brownstone Autos owns an automobile manufacturing plant in New Orleans, LA. Given the value ofthe manufacturing plant,
Fantastic news! We've Found the answer you've been seeking!
Question:
Brownstone Autos owns an automobile manufacturing plant in New Orleans, LA. Given the value ofthe manufacturing plant, they purchased a total of $25 million in layered property insurance. Policy Aprovides the first layer of $1 million above an initial deductible of $500,000. Policy B provides thesecond layer which begins at the $1.5 million attachment point, and Policy C provides the third layerwhich begins at the $11 million attachment point. A hurricane causes substantial damage to themanufacturing plant, resulting in a covered loss of $20 million. Given this information, what dollar amount will Policy C be required to pay to Brownstone Autos?
Posted Date: