Question
James purchased liability insurance with a $50,000 limit from Insurer A. When Insurer A denied a claim that James thought should be covered, he bought
James purchased liability insurance with a $50,000 limit from Insurer A. When Insurer A denied a claim that James thought should be covered, he bought a second liability insurance policy with a $100,000 limit from Insurer B. Before he cancelled the policy with Insurer A, a $90,000 loss occurred. The loss is covered under both policies. Insurer A is primary.
If this loss is settled on a pro rata basis, Insurer A will pay $ and Insurer B will pay $. If this loss is settled on a contribution by equal shares basis, Insurer A will pay $ and Insurer B will pay $. If this loss is settled on a primary and excess insurance basis, Insurer A will pay $ and Insurer B will pay $.
IMPORTANT: Your answer should be rounded to the nearest integer and should NOT include symbols ('$' or ',').
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