Thomas Owns a Manufacturing System Worth $200 000

question 5

Essay

Thomas owns a manufacturing system worth $200 000.He purchased $90 000 worth of property insurance from Prairie Insurance Co.That policy contains a co-insurance clause that requires 90 percent coverage.A fire recently damaged Thomas's manufacturing system.How much is Prairie Insurance Co required to pay to him if the fire damage is assessed at $100 000? What if it is assessed at $200 000?

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Definitions:

Terrorism

Defined by American law as premeditated, politically motivated violence against noncombatant targets including unarmed or off-duty military personnel by subnational groups or clandestine agents, usually intended to influence an audience. However, a broader definition would include the use by states of indiscriminate violence against civilians in order to achieve military and political goals. Moreover, what one side in a conflict would call terror might be regarded by the other side as legitimate resistance to occupation, as well as ethnic, religious, or national oppression.

Welfare State

A government system that provides social security, health care, and financial aid to its citizens.

Policy Group

involves a collective or body focused on the development, advocacy, or implementation of specific policies or guidelines within an organization or society.

Conservatives

People or political groups that generally advocate for preserving traditional values and institutions, emphasizing stability and continuity.