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Calculate how much each has to bear the loss. (10 Marks) Mr. John possessed a warehouse and stocks of which values are $ 1,000,000 and
Calculate how much each has to bear the loss. (10 Marks) Mr. John possessed a warehouse and stocks of which values are $ 1,000,000 and $ 500,000 respectively. He insured both the warehouse and stocks against fire and flood with Company A for $ 1,200,000. At the same time, he insured the stocks against flood with Company B for $ 300,000. During the insurance period, the insured stocks were partially damaged by flood and the loss amount of the stocks was $ 50,000. How much did each insurer have to indemnify
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