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Principles of Risk Management and Insurance 13th Edition by George Rejda,Michael McNamara
Edition 13ISBN: 978-0134082578Principles of Risk Management and Insurance 13th Edition by George Rejda,Michael McNamara
Edition 13ISBN: 978-0134082578 Exercise 5
Assume that a $300,000 liability claim is covered under two liability insurance contracts. Policy A has a $500,000 limit of liability for the claim, while Policy B has a $125,000 limit of liability. Both contracts provide for contribution by equal shares.
a. How much will each insurer contribute toward this claim? Explain your answer.
b. If the claim were only $50,000, how much would each insurer pay?
a. How much will each insurer contribute toward this claim? Explain your answer.
b. If the claim were only $50,000, how much would each insurer pay?
Explanation
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a)The given is a case of contribution by...
Principles of Risk Management and Insurance 13th Edition by George Rejda,Michael McNamara
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