Question
In January, a company purchased four insurance policies for its property valued at $500,000. The insurance coverage is as follows: Policy 1 $100,000 Policy 2
In January, a company purchased four insurance policies for its property valued at $500,000. The insurance coverage is as follows: Policy 1 $100,000 Policy 2 $200,000
Policy 3 $300,000
Policy 4 $400,000 Among them, policy 1 contains an absolute deductible of $50,000, policy 2 contains a relative deductible of $50,000, policy 3 contains an initial deductible of $10,000, and the related ratio is 110% of the vanishing deductible, and policy 4 contains 80%. Co-insurance ratio. The market value of the property rose to $1 million in October, when a fire caused the property to suffer an underwriting loss of $50,000. Please explain the different methods of allocating losses in the policy in the case of a consistent policy. If the calculation result has a decimal part, keep it to 1 digit after the decimal point.
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