Using the coinsurance formula, an insured carries $60,000 of coverage on a building worth $100,000 with an 80% coinsurance requirement. A $20,000 loss occurs. How much will the insurer pay?
Using the coinsurance formula, an insured carries $60,000 of coverage on a building worth $100,000 with an 80% coinsurance requirement. A $20,000 loss occurs. How much will the insurer pay?