Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 11, 2024

Under a surplus-share agreement, Gulf Insurance has a retention limit of $488,930 per exposure unit and can transfer $1,740,400 to Bahrain Re. Gulf insured a

Under a surplus-share agreement, Gulf Insurance has a retention limit of $488,930 per exposure unit and can transfer $1,740,400 to Bahrain Re. Gulf insured a shopping center valued at $1,880,500. Two months later a minor fire caused a loss of $30,000. How much will the reinsurer pay towards the loss?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

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

Step: 2

Step: 3

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

Contemporary Engineering Economics

Authors: Chan S. Park

5th edition

136118488, 978-8120342095, 8120342097, 978-0136118480

Students also viewed these Finance questions

Question

★★★★★

The cost of materials transferred into the Filling Department of Keystone Personal Care Company is $170,240, including $50,100 from the Blending Department and $120,140 from the materials storeroom....

Answered: 1 week ago

Question

★★★★★

2.17 An Archeological Find An article in Archaeometry involved an analysis of 26 samples of Romano-British pottery found at four different kiln sites in the United Kingdom. The samples were analyzed...

Answered: 1 week ago

Question

★★★★★

Case-Based Marketing Selling on Amazon.com A case-based reasoning system is a type of expert system. It attempts to match the facts on hand to a database of prior cases. When a case-based reasoning...

Answered: 1 week ago

Question

★★★★★

A $18,000 loan is to be amortized for 10 years with quarterly payments of $658.00. If the interest rate is 8%, compounded quarterly, what is the unpaid balance immediately after the sixth payment?...

Answered: 1 week ago

Question

★★★★★

6. Two identical prismatic bars PQ and RS each weighing 75 N are welded together to form a Tee and are suspended in a vertical plane as shown in Fig. 3.10. P R 75 N S 75 N 100 N Fig. 3.10. Calculate...

Answered: 1 week ago

Question

★★★★★

Coburn (beginning capital, $57,000) and Webb (beginning capital $93,000) are partners. During 2022, the partnership earned net income of $65,000, and Coburn made drawings of $19,000 while Webb made...

Answered: 1 week ago

Question

★★★★★

Your company has an Azure subscription. You plan to create a virtual machine scale set named VMSS1 that has the following settings: Resource group name: RG1 Region: West US Orchestration mode:...

Answered: 1 week ago

Question

★★★★★

Lila invested $10,000 in one of Long Life Insurance Company's annuity contracts. When issued, the contract was paying a 5 percent rate of return. Two years later, Long Life increased this rate to 7...

Answered: 1 week ago

Question

★★★★★

Write a brief summary or outline of the three (3) most important mathematical concepts worked on during the week and post it on this forum. Remember to include the topic of the line graph and how it...

Answered: 1 week ago

Question

★★★★★

# 3 [36.33] A cracked beam is similar in geometry to that of Problem #1 except that the vertical location of the crack is arbitrary at position y from the centerline. The applied load is uniformly...

Answered: 1 week ago

Previous Question Next Question