Question
Question 1 (10 marks) A fire occurs at a factory where the sum insured is RM810,000. Value of the factory at time of loss is
Question 1 (10 marks)
A fire occurs at a factory where the sum insured is RM810,000. Value of the factory at time of loss is RM850,000. The amount of loss on indemnity basis is RM115,000.
- What will be the amount of indemnity settlement?
(4 marks)
- If the policy carries the Reinstatement Memorandum and the value of risk at time of reinstatement is RM930,000, while the loss on reinstatement basis is RM124,000, what will be the amount of settlement?
(3 marks)
- If the value at risk at time of reinstatement is RM970,000, what will be the new amount of settlement?
(3 marks)
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Finance At The Threshold
Authors: Christopher Houghton Budd
1st Edition
0566092115, 978-0566092114
