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Truck collision with total loss amount

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Reference no: EM133057514

All Insure issued a policy for $10 Million Auto liability.

The underwriter, following company underwriting guidelines to retain only $5 Million liability risk, placed a facultative excess of loss reinsurance contract for $5 million with ReinsureRE.

The insured caused a pile-up car/truck collision with total loss amount of $8 Million in loss payments.

How much of the $8 Million will be covered by the excess of loss contract?

Reference no: EM133057514

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