solution
solution.
Your firm has an insurance policy with a per occurrence deductible of $100,000 and
a stop loss of $500,000. Assume that the following covered losses occurred during
the policy period: $ 25,000; $250,000; $100,000; $500,000; $750,000; $150,000;
$50,000. Make a table that shows the amount of each claim to be paid by you and
the insurer for this policy period assuming the claims were paid in the order above.
(1) What is the total amount of losses you paid during the policy period if the policy
limit is $2,000,000?
(2) What is the total amount of losses you paid during the policy period if the policy
limit is $1,000,000?
a stop loss of $500,000. Assume that the following covered losses occurred during
the policy period: $ 25,000; $250,000; $100,000; $500,000; $750,000; $150,000;
$50,000. Make a table that shows the amount of each claim to be paid by you and
the insurer for this policy period assuming the claims were paid in the order above.
(1) What is the total amount of losses you paid during the policy period if the policy
limit is $2,000,000?
(2) What is the total amount of losses you paid during the policy period if the policy
limit is $1,000,000?
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