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1. Fred owns the commercial building that houses his business. The property insurance policy covering the building has an 80% coinsurance clause. If the replacement cost of the building is $2 million and Fred has insured it for $1.2 million on a replacement cost basis, how much would the insurance company pay (ignoring any deductible) if the building were to suffer $200k in damage as a result of a fire?

A. $120k

B. $150k

C. $160k

D. $200k

2. What are some of the major purposes or advantages of a personal umbrella policy?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92567435

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