Dan Bought a R5000 000 Marina Two Years Ago and Obtained

question 117

Essay

Dan bought a R5000 000 marina two years ago and obtained R4 000 000 of property insurance.Recently economic improvements on the lake has raised the property's value to R5 500 000 (the good news).But the general store had a fire causing R1 000 000 worth of damage (the bad news).How much will the insurance company pay to repair the store since Dan has a coinsurance clause in the marina's policy?

---

Definitions:

Stimulus Reward

A concept in psychology where a stimulus leads to a behavior that is then rewarded, reinforcing the behavior.

Successive Series

A sequence of events, objects, or numbers arranged in a specific order, following one right after the other.

Frequency Marketing

A marketing strategy that rewards customers based on the frequency of their purchases to encourage repeat business.

Conspicuous Consumption

Conspicuous consumption is the acquisition and display of luxury goods or services to signal wealth, status, or social position.