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Central Warehousing, Ltd. has a small office building on 1st Ave. During the current policy year, there were three loss events at the 1st Ave.
Central Warehousing, Ltd. has a small office building on 1st Ave. During the current policy year, there were three loss events at the 1st Ave. building: In February, a $2,500 computer was stolen; In April, a fire started in a waste basket in one of the conference rooms, spreading throughout the room before the sprinkler system put it out, resulting in $5,000 in damage; and in November, Jordan Roberts, a Central customer, fell on the ice that the buildings custodian neglected to salt after an early snow storm, incurring injuries which she agreed to settle for $12,000. Centrals CEO has asked you to look over the insurance policy to determine how much Central will receive in indemnity for these losses. How much will that be if the policy has a $2,000 straight deductible? How much will it be if the policy has a $10,000 annual aggregate deductible?
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