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Tanya [424]
3 years ago
5

Lauren purchased a personal umbrella policy with a $1 million limit and a $1,000 self-insured retention. Her insurer required he

r to carry a $300,000 liability limit under her homeowners policy. Tina was held responsible for slandering a public official. The public official won a $100,000 judgment against Tina. The insurer that wrote Tina's homeowners policy denied coverage. How much will the insurer pay under Tina's personal umbrella policy
Business
1 answer:
givi [52]3 years ago
4 0

Answer:

$99,000

Explanation:

The amount of $100,000 will be split between both Tina and the insurer in which the amount of $1,000 will be cover by Tina based on her self-insured retention policy while the insurer on the other hand will cover the remaining amount of $99,000 calculated as ($100,000-$1,000).

Therefore the amount that the insurer will pay under Tina's personal umbrella policy will be $99,000

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