Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

STT Company was insured their factory building to protect from fire loss. The insurance value of his property has been estimated at Tk. 25,00,000. He

image text in transcribed

STT Company was insured their factory building to protect from fire loss. The insurance value of his property has been estimated at Tk. 25,00,000. He has taken insurance coverage from 3 different general insurance companies named ND Insurance company, FN Insurance company and ZK Insurance company. The 48% insurance policy will be covered by ND Insurance company and 33% insurance policy will be covered by ZK Insurance company. The factory was destroyed by fire and actual loss was ascertained 67% of the insurance value. How much the insured can recover the loss from the each insurer

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Military Finances Personal Money Management For Service Members Veterans And Their Families

Authors: Cheryl Lawhorne-Scott, Don Philpott

1st Edition

144222214X, 978-1442222144

More Books

Students also viewed these Finance questions