Answer:
$10,000
Step-by-step explanation:
Data provided in the question:
The amount of personal umbrella policy = 1,000,000
The retention limit = $5,000
Loss suffered by the insured = $15,000
Now,
The amount that would be paid under the umbrella
= Loss suffered by the insured - The retention limit
or
The amount that would be paid under the umbrella = $15,000 - $5,000
or
The amount that would be paid under the umbrella = $10,000
