Showplace Insures Its $160,000 Building with Two Insurers: with Hometown

question 4

Essay

Showplace insures its $160,000 building with two insurers: with Hometown Insurance for $60,000 and with National Insurance for $120,000. The building suffers a fire loss of $75,000. From whom and for how much can Showplace collect?

Understand the geological features present in the Caribbean region.

Knowledge of the historical formation of major oceanic landmarks including the central Atlantic Ocean and the Gulf of Mexico.

Identify and understand the role of plate tectonics in forming oceanic and continental features.

Comprehend the process and significance of various geologic phenomena such as subduction zones, island arcs, and oceanic plateaus.

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Definitions:

Formalized

The process or state of making something official, structured, and systematic through established procedures and protocols.

Decentralized

The distribution of decision-making powers and operations among various levels within an organization or system.

Formalized Organizations

Organizations characterized by established procedures and rules, clear hierarchies, and well-defined roles and responsibilities.

Rules

Specific guidelines or regulations designed to dictate behavior or procedures within a particular context or organization.