Calamity Casualty Insurance Company, a primary insurer, has a $10,000,000 excess of $1,000,000 treaty (i.e....
60.1K
Verified Solution
Link Copied!
Question
Accounting
Calamity Casualty Insurance Company, a primary insurer, has a $10,000,000 excess of $1,000,000 treaty (i.e. a $1,000,000 retention) with Whitecherry Re. Calamity Casualty insured Acme Engineering for a limit of $5,000,000 and a premium of $5,000. Acme submitted a covered loss totaling $800,000. What amount of the loss will Whitecherry Re pay? Show calculations.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
