Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

plz explain, thx! Onassis operates a retail store in Kitchener building that she also owns. Unfortunately, a re that started in a tenant's upstairs unit

plz explain, thx!

image text in transcribed
Onassis operates a retail store in Kitchener building that she also owns. Unfortunately, a re that started in a tenant's upstairs unit caused extensive damage to Onassis' store. She will be required to remove her store to a temporary location and get rid of certain stock that is not salvageable due to water and smoke damage. Even before she can do that she'll likely have to shut down for a few weeks. She had500,000in coverage under one potentially applicable policy but it appears that the losses from both the building and the business will exceed that. The building losses are going to be about 500,000 in coverage under one potentially applicable policy but it appears that the losses from both the building and the business will exceed that. The building losses are going to be about 600,000 and she's not sure how much the business-related losses will be. Advise Onassis how insurance may respond to this and what she must keep in mind as she proceeds

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting

Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton

7th Edition

978-1760421144, 1760421146

Students also viewed these Law questions

Question

What element has the lightest atoms?

Answered: 1 week ago