Find the Amount Paid by Each of the Multiple Carriers

question 46

Multiple Choice

Find the amount paid by each of the multiple carriers.
-The Hamilton Race Track had a fire loss of $207,000. They had insurance as follows: company A, $400,000; company B, $50,000; and company C, $50,000. Find the amount paid by each carrier. Assume the coinsurance requirement is met.

• A)A pays: $103,500
• B pays: $69,000
• C pays: $34,500
• B)A pays: $82,800
• B pays: $82,800
• C pays: $41,400
• C)A pays: $165,600
• B pays: $20,700
• C pays: $20,700
• D)A pays: $207,000
• B pays: $0
• C pays: $0

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Definitions:

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The industrial process of converting raw materials into finished products on a large scale using labor, machinery, and chemical processing.

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A neighborhood in San Francisco, California, known as the birthplace of the 1960s counterculture movement.