Lisa's Botique insures the contents of its store on a Building and Personal Property Coverage Form with a Value Reporting Form that requires monthly reporting. The policy renewed on January 1 and is written with a provisional limit of $300,000. Lisa's has been reporting values accurately and on time. A covered loss occurs on May 5, in the amount of $150,000. The last report was for the month of March, which was received April 15, showed $100,000 in values. 

How much will be paid for this loss. (Numbers Only).

Answer rating: 100% (QA)

SOLUTION To determine the amount that will be paid for this loss we need to consider the policy pr... View the full answer