Following catastrophic hurricane losses,South Coast Insurance Company changed its deductible provision.Rather than using a specified dollar value,$250 for example;the dollar value of the deductible increases with the size of the loss.The type of deductible that South Coast changed to is called a(n)

Question

Quizplus · Accepted Answer

The type of deductible described in the scenario is a percentage deductible, where the deductible amount increases with the size of the loss.

Following Catastrophic Hurricane Losses,South Coast Insurance Company Changed Its Deductible