Jacob's Funhouse Has Insured Its Building with Multiple Companies for a Total

question 77

Short Answer

Jacob's Funhouse has insured its building with multiple companies for a total of $529,000, of which $158,700 is with Fireman's. Assuming that all coinsurance requirements have been met, how much would Fireman's be responsible for in the event of a $226,000 fire?

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Definitions:

Organizational Structures

The systems and ways a company or entity is organized to achieve its goals, including its hierarchy, communication paths, and roles.

Social Class System

A hierarchical organization of society into groups based on factors such as wealth, occupation, and education, which can affect individuals' opportunities and lifestyles.

Macro-structures

Large-scale social structures that influence society as a whole, such as economic systems, political systems, and cultural norms.

United States

A country located primarily in North America, composed of 50 states, a federal district, five major self-governing territories, and various possessions.