The coinsurance requirement had been met

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Reference no: EM132054470

1. The Robinson Company had an insured fire loss of $948,000. It had insurance coverage as follows: Company A, $725,000; Company B, $500,000; and Company C, $200,000. Find the amount paid by each carrier assuming that the coinsurance requirement had been met.

$485,087.72, $346,491.23, $116,421.05

$487,859.65, $338,175.44, $121,964.91

$479,543.86, $327,087.72, $141,368.42

$482,315.79, $332,631.58, $133,052.63

2. Find the amount to be paid by the insurance company. Assume the policy includes an 80% coinsurance clause. Round to the nearest dollar.

Replacement Cost of Building: $302,000

Face Value of Policy: $211,000

Amount of Loss: $2000

$2000

$2286

$1600

$1747

Reference no: EM132054470

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