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Please I need this question to answer ASAP. 2. Elanpigan Insurance Company writes a substantial amount of commercial property insurance. ABC realtor company purchased a

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2. Elanpigan Insurance Company writes a substantial amount of commercial property insurance. ABC realtor company purchased a liability insurance from the Flannigan insurance Company. The contract limit is $1,500,000, premium is $10,000 and deductible is $100,000. Flannigap Insurance Company has a reinsurance treaty agreement with Bermuda Re. Under the terms of the reinsurance contract, Elanugao Insurance retains 25% of the risk on all contracts and transfers 75% of the risk to Bermuda Re. The contract ABC realtor company purchased falls within the treaty agreement. Based on the description, answer the following questions: a. What type of reinsurance contract best describes the reinsurance arrangement that Liability Insur- ance has with Bermuda Re? Circle your answer Pro Rata Per risk excess of lossPer occurrence excess of loss T b. How much of the $10,000 premiums will be retained by Flannigap Insurance Company? c. If ABC realtor company suffers a property loss of $600,000, how much will each of the following parties pay? 1) ABC realtor pays: 2) Flannigan Insurance Company pays: 3) Bermuda Re pays

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