1. Tim's Tailor Shoppe has the following coverages: CGL - $500,000 Excess Policy $2,000,000, ABC insurance company requires $1,000,000 underlying limit If Tim's has a loss of $750,000 how will the policies respond? a. b. C. d. $750,000 Excess $500,000 CGL only $250,000 Excess only $500,000 CGL and $250,000 Excess
1. Tim's Tailor Shoppe has the following coverages: CGL - $500,000 Excess Policy $2,000,000, ABC insurance company requires $1,000,000 underlying limit If Tim's has a loss of $750,000 how will the policies respond? a. b. C. d. $750,000 Excess $500,000 CGL only $250,000 Excess only $500,000 CGL and $250,000 Excess
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
am. 73.
![1. Tim's Tailor Shoppe has the following coverages:
CGL - $500,000
Excess Policy $2,000,000, ABC insurance company requires $1,000,000 underlying limit
If Tim's has a loss of $750,000 how will the policies respond?
a.
b.
C.
d.
$750,000 Excess
$500,000 CGL only
$250,000 Excess only
$500,000 CGL and $250,000 Excess](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd6a708a0-cab4-4f4a-bc34-d844cfb7d10c%2F3e0a2462-cb05-4589-b617-816127e5140f%2Fjy9pxas_processed.png&w=3840&q=75)
Transcribed Image Text:1. Tim's Tailor Shoppe has the following coverages:
CGL - $500,000
Excess Policy $2,000,000, ABC insurance company requires $1,000,000 underlying limit
If Tim's has a loss of $750,000 how will the policies respond?
a.
b.
C.
d.
$750,000 Excess
$500,000 CGL only
$250,000 Excess only
$500,000 CGL and $250,000 Excess
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