Andrew owns a commercial office building that is insured under three property insurance contracts. He has $100,000
Question:
a. Assume that the pro rata liability provision appears in each contract. If a $100,000 loss occurs, how much will Andrew collect from each insurer? Explain your answer.
b. What is the purpose of the other-insurance provisions that are frequently found in insurance contracts?
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Related Book For
Principles of Risk Management and Insurance
ISBN: 978-0132992916
12th edition
Authors: George E. Rejda, Michael McNamara
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