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What potential and actual loss will business have as result

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Imagine that you run a software company and lease your office space in a 50-floor office tower. On Wednesday morning you arrive at work just after 9am and are informed that a neighboring business located 3 floors above your floor suffered a major broken pipe overnight resulting in 2 feet of water being deposited across your entire office floor.

Problem 1: Explain whose insurance, the landlord's, the insurance of the firm located 3 floors above or your firm's insurance would cover your damages and losses experienced in this event. Specifically, what potential and actual losses will your business have as a result of the pipe breaking and the resulting flooding? For each loss, whose insurance, if in force, will cover the loss?

Reference no: EM132937004

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