A hurricane caused 465000 in damages to a building owned by
A hurricane caused $465,000 in damages to a building owned by Cane Consulting. The building was insured by several carriers for a total of $950,000 and all coinsurance requirements were met. If Supreme Insurance is providing $475,000 of the total coverage, what is their share of the loss?
a. $465,000
b. $455,211
c. $232,500
d. $387,962
Solution
C.$232,500
