Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. b) thapelo and gorata are legally separated. thape

b) Thapelo and Gorata are legally separated. Thapelo insured their vacation home for P280 000....

50.1K

Verified Solution

Question

Finance

b) Thapelo and Gorata are legally separated. Thapelo insured their vacation home for P280 000. He was not aware that Gorata also purchased coverage and she insured the vacation home for P200 000. While both policies were in force, a P350 000 covered loss occurred. How will the loss be settled if:

(i) pro rata liability is used?

(ii) contribution by equal shares is used?

(iii) primary and excess insurance is used, with Thapelos coverage being deemed primary?

[12 marks]

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

two randomly assigned groups are compared in a health pilot evaluation project. data down on both...

Biology
1.2K views

Question 3 of 10 Which of the following is an example of temporal isolation OA...

Biology
1.2K views

A dormancy may be induced by abscisic acid or other chemicals and may be broken...

Statistics
1.2K views

One practical application of slope of a line is O A to see what a...

Statistics
1.2K views

BONUS Lily frequents 1 of 2 fast food restaurants choosing McDonalds 25 of the time...

Algebra
1.2K views

A researcher records the number of employees of each of the IT companies in th...

Accounting
1.2K views

the following information pertains to trenton glass works for the year just ended. budgeted direct-labor...

Accounting
1.2K views

Financial information for American Eagle is presented in Appendix A, and financial information for Buckle...

Accounting
1.2K views

Employee is a salesman in a home furnishings store. The prior year the store had...

Accounting
1.2K views

Required information Skip to question [The following information applies to the questions displayed below.]...

Accounting
1.2K views

Amy has decided to open her own business to sell cakes and cupcakes for weddings,...

Finance
1.2K views

Suppose you are holding the market portfolio shown in the table, LOADING..., and have invested...