Find the Amount Paid by Each of the Multiple Carriers

question 58

Multiple Choice

Find the amount paid by each of the multiple carriers.
-The Star Tool Company had an insured fire loss of $1,416,000. It had insurance coverage as follows: Company A, $4,500,000; Company B, $2,500,000; and Company C, $1,000,000. Find the amount paid by each carrier assuming that the coinsurance requirement had been met.

• A)$767,000, $413,000, $236,000
• B)$796,500, $442,500, $177,000
• C)$826,000, $413,000, $177,000
• D)$855,500, $354,000, $206,500

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Definitions:

Transactive Memory

A mechanism through which groups collectively encode, store, and retrieve knowledge.

Synergy

The creation of a whole that is greater than the sum of its parts, often resulting from effective teamwork and collaboration.

Moreland's Studies

Research conducted by psychologist Richard Moreland, often focusing on group dynamics and how familiarity impacts group cohesion and attractiveness.

Team Training

A systematic approach for enhancing the skills of team members to improve team performance and efficiency.