View the step-by-step solution to:


Spark Manufacturing has purchased a commercial liability policy from Excel Insurance Company. During the policy

period, Spark Manufacturing had a total of ten claims, with values as follows: $12,000; $2,000; $5,000; $8,000; $33,000; $100,000; $550,000; $50,000; $75,000; $15,000. The $75,000 claim is due to employee #7 driving a company vehicle while intoxicated. What would each party pay if:

  1. The policy is subject to a $10,000 per occurrence deductible and a $300,000 per occurrence policy limit.

Top Answer

In First option spark pays 10,000 in each case where in second it... View the full answer


Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question