Patricia is being sued for $3 million as a result of an automobile accident where she was deemed 50 percent at-fault. At the time of the loss, Patricia had an automobile policy with Globex Insurance Company and held a liability limit of $2 million. She also had an Umbrella Policy with Eiffel Insurance Company with a $2 million Limit. If the claimant is awarded $3 million, how is the claim payment structured? OA) Globex Insurance covers $2 million and Eiffel Insurance covers the remaining $1 million. OB) Globex Insurance covers $1 million and Eiffel Insurance covers the remaining $2 million. OC) Globex Insurance covers $2 million and Patricia pays the remaining $1 million. OD) Globex Insurance covers $1.5 million as Patricia was deemed 50 prcent at fault..
Patricia is being sued for $3 million as a result of an automobile accident where she was deemed 50 percent at-fault. At the time of the loss, Patricia had an automobile policy with Globex Insurance Company and held a liability limit of $2 million. She also had an Umbrella Policy with Eiffel Insurance Company with a $2 million Limit. If the claimant is awarded $3 million, how is the claim payment structured? OA) Globex Insurance covers $2 million and Eiffel Insurance covers the remaining $1 million. OB) Globex Insurance covers $1 million and Eiffel Insurance covers the remaining $2 million. OC) Globex Insurance covers $2 million and Patricia pays the remaining $1 million. OD) Globex Insurance covers $1.5 million as Patricia was deemed 50 prcent at fault..
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Patricia is being sued for $3 million as a result of an automobile accident where she was deemed 50 percent at-fault. At
the time of the loss, Patricia had an automobile policy with Globex Insurance Company and held a liability limit of $2
million. She also had an Umbrella Policy with Eiffel Insurance Company with a $2 million Limit. If the claimant is awarded
$3 million, how is the claim payment structured?
2
OA) Globex Insurance covers $2 million and Eiffel Insurance covers the remaining $1 million.
OB) Globex Insurance covers $1 million and Eiffel Insurance covers the remaining $2 million.
OC) Globex Insurance covers $2 million and Patricia pays the remaining $1 million.
OD) Globex Insurance covers $1.5 million as Patricia was deemed 50 prcent at fault.
Transcribed Image Text:Which one (1) of the following factors would affect the premium charged for a Homeowners policy?
OA) The distance between the house and its neighbour
OB) The value of the land without the house.
OC) The value of unscheduled personal property.
OD) The deductible to vigich the policy is subject.
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