Question $33$

$5$ pts

If an organization has a commercial insurance program whereby an insurance company agrees to pay for losses up to $$1M$ per specific loss subject to a $$50,000$ self$-$insured retention with an excess insurance company providing excess coverage above $$1M$ up to $$2M$ per loss, how much would the organization pay in the event of a $$1,250,000$ loss?

$$50,000$

$$1,250,000$

$$250,000$

$$300,000$