Dave notices the water pipe connecting his dishwasher had ruptured. In order to BEST comply with requirements contained in the Comprehensive Homeowners Policy and avoid possible complications with the Claims Settlement process, what is the FIRST thing Dave should do? OA) Call his Broker to report the claim OB) Attempt to clean up as much water as possible, if safe to do so OC) Shut the main water supply to the home to stop the rupture OD) Get the family out of the house to safety A building worth $500,000 is insured for $300,000 under a policy with a 90% co-insurance clause. Fire destroys the building, causing a loss of $500,000. How much would the insurer pay? OA) $270,000.00. OB) $240,000.00. OC) $300,000.00. OD) $333,333.33.
Dave notices the water pipe connecting his dishwasher had ruptured. In order to BEST comply with requirements contained in the Comprehensive Homeowners Policy and avoid possible complications with the Claims Settlement process, what is the FIRST thing Dave should do? OA) Call his Broker to report the claim OB) Attempt to clean up as much water as possible, if safe to do so OC) Shut the main water supply to the home to stop the rupture OD) Get the family out of the house to safety A building worth $500,000 is insured for $300,000 under a policy with a 90% co-insurance clause. Fire destroys the building, causing a loss of $500,000. How much would the insurer pay? OA) $270,000.00. OB) $240,000.00. OC) $300,000.00. OD) $333,333.33.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
need help asap

Transcribed Image Text:Dave notices the water pipe connecting his dishwasher had ruptured. In order to BEST comply with requirements
contained in the Comprehensive Homeowners Policy and avoid possible complications with the Claims Settlement
process, what is the FIRST thing Dave should do?
OA) Call his Broker to report the claim
OB) Attempt to clean up as much water as possible, if safe to do so
OC) Shut the main water supply to the home to stop the rupture
OD) Get the family out of the house to safety

Transcribed Image Text:A building worth $500,000 is insured for $300,000 under a policy with a 90% co-insurance clause. Fire destroys the
building, causing a loss of $500,000. How much would the insurer pay?
OA) $270,000.00.
OB) $240,000.00.
OC) $300,000.00.
OD) $333,333.33.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps

Recommended textbooks for you

Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education

Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning

Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education

Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning

Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON

Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON

Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON