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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
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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