Widget Manufacturing Company has purchased a commercial liability policy from Hilltop Insurance Company. During the...

 

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Widget Manufacturing Company has purchased a commercial liability policy from Hilltop Insurance Company. • During the policy period, Widget Manufacturing had a total of ten claims, with values as follows: $1,000; $15,000; $5,000; $8,000; $33,000; $125,000; $450,000; $25,000; $75,000; $20,000. o Claims occurred in the order shown here • The $75,000 claim is due to employee driving a company vehicle for personal use. The nine other claims are due to accidents incurred while driven for business purposes. Calculate the total amount of loss each party, Hilltop Insurance & Widget Manufacturing, would be responsible for under policies constructed as described in each problem? The policy is subject to a $100,000 aggregate deductible and a $500,000 aggregate policy limit. The policy is subject to a $25,000 per occurrence deductible and a $500,000 aggregate policy limit. The policy is subject to a $10,000 per occurrence deductible and a $100,000 per occurrence policy limit. Widget Manufacturing Company has purchased a commercial liability policy from Hilltop Insurance Company. • During the policy period, Widget Manufacturing had a total of ten claims, with values as follows: $1,000; $15,000; $5,000; $8,000; $33,000; $125,000; $450,000; $25,000; $75,000; $20,000. o Claims occurred in the order shown here • The $75,000 claim is due to employee driving a company vehicle for personal use. The nine other claims are due to accidents incurred while driven for business purposes. Calculate the total amount of loss each party, Hilltop Insurance & Widget Manufacturing, would be responsible for under policies constructed as described in each problem? The policy is subject to a $100,000 aggregate deductible and a $500,000 aggregate policy limit. The policy is subject to a $25,000 per occurrence deductible and a $500,000 aggregate policy limit. The policy is subject to a $10,000 per occurrence deductible and a $100,000 per occurrence policy limit.

Answer rating: 100% (QA)

Widget Manufacturing Company has purchased a commercial liability policy from Hilltop Insurance Company During the policy period Widget Manufacturing ... View the full answer