shared losses when liability is divided

Apr 25th, 2015
Anonymous
Category:
Accounting
Price: $5 USD

Question description

Pinnacle Manufacturing has multiple carrier fire insurance coverage on its plant and equipment in the amount of $ 2,960,000 as follows:
Kemper $ 1,350,000 policy
Metropolitan $ 921,000 policy
The Hartford $ 689,000 policy
Assuming that all coinsurance clause stipulations have been met, how much would each be responsible for in the event of a $430,000 fire? Round to the nearest whole percent before using them in your final calculations.

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