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Question
Ordinary Business, Inc., (OBI) obtains a fire insurance policy from Precise Insurance Company (PIC) on a $400,000 warehouse. The policy includes an 80-percent coinsurance clause. OBI insures the property for $320,000. In a fire, the warehouse suffers $200,000 in damage. OBI can recovera. $400,000.
b. $320,000.
c. $200,000.
d. $80,000.
Answer
This answer is hidden. It contains 1 characters.
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