question archive Insurer A insures a building for $100,000 on a replacement cost basis
Insurer A insures a building for $100,000 on a replacement cost basis
Subject:BusinessPrice: Bought3
Insurer A insures a building for $100,000 on a replacement cost basis. Insurer B insures the same building for $300,000 on a replacement cost basis. A fire occurs in the building, causing $120,000 in damage. How much will be paid by the two insurers if the loss is split according to the pro-rata distribution clause?
