19. 10 Points A company is insured under two CGL policies, both of...
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Accounting
19. 10 Points
A company is insured under two CGL policies, both of which are considered primary insurance. The each occurrence limit under policy A is $ 500,000 and $2,000,000 under policy B. The company was held to be legally liable for $1,000,000 in damages arising from one occurrence.
Under the contribution by equal shares method, how much would each insurer contribute to fulfill the claim?
If the other insurance condition does not permit contribution by equal shares but rather contribution by limits, how much would each insurer contribute to fulfill the claim?
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