Risk Mgt HW Ch. 22-23

Risk Mgt HW Ch. 22-23 - Chapter 22 & 23 AQ's Chapter 22...

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Chapter 22 1. a) Fred’s son would be covered in this situation, but only for $300,000 of the $500,000 lawsuit. The max coverage on the policy is $300,000 and that is all that will be covered. They would have to pay the $250 collision deductible though. b) This loss will be completely covered by Fred’s policy. The $20,000 will be completely covered. If Fred’s friend had an insurance policy on his car, his policy may cover some of the damages. They would have to pay the $250 collision deductible though. c) This accident would be covered under the PAP policy for the $50,000. Heather and Fred will have to prove that they let Heather’s boyfriend use the car. They would have to pay the $250 collision deductible though. d) Fred’s wife would be covered under the family PAP policy. The $30,000 for the foundation of the house, the $8,000 damage to the family car, and the $5,000 medial expense will all be covered. They would have to pay the $250 collision deductible though. e) Fred has a medial payments limit of $5,000 and will only be covered for the first $5,000 of the $15,000 accident. The person who hit him will have to pay the remainder of the medical expenses. f)
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Risk Mgt HW Ch. 22-23 - Chapter 22 & 23 AQ's Chapter 22...

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