The Apportionment of Loss And Contribution of Compound Insurance a Clear Explan
The Apportionment of Loss And Contribution of Compound Insurance a Clear Explan
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64 THE APPORTIONMENT OF LOSS AND Apportionment and Contribution on Corn.
Continental insures $2, 500 Pays $1, 176. 47 JEtna insures 6, 000 Pays 2, 823. 53 Total loss paid $4, 000. 00 Apportionment and Contribution on Oats. JEtna insures $1, 500 Pays $1, 000. 00 Total loss paid $1, 000. 00 pays on Corn $2, 823. 53 JEtna pays on Oats $1, 000. 00 Total loss paid r $3, 823. 53 Continental pays $1, 176. 47 pays $3, 823. 53 Total loss paid $5, 000. 00 In the case of Cromie vs. The Kentucky & Louis- v...ille Mutual Insurance Company, 15 B. Monroe (Ky. ), 432, the court made a rule for this class of cases, and it has been and is being generally used.
THE CROMIE RULE.
When the compound insurance covers property which is not covered by the specific insurance, a por- tion of the compound insurance, equal to the amount of loss on this property, must be set aside to pay this loss. . The remainder of the compound insurance con- tributes with the specific to pay the loss on the prop- erty covered by the specific insurance.
What to read after The Apportionment of Loss And Contribution of Compound Insurance a Clear Explan?
You can find similar books in the "Read Also" column, or choose other free books by William Henry Daniels to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
64 THE APPORTIONMENT OF LOSS AND Apportionment and Contribution on Corn.
Continental insures $2, 500 Pays $1, 176. 47 JEtna insures 6, 000 Pays 2, 823. 53 Total loss paid $4, 000. 00 Apportionment and Contribution on Oats. JEtna insures $1, 500 Pays $1, 000. 00 Total loss paid $1, 000. 00 pays on Corn $2, 823. 53 JEtna pays on Oats $1, 000. 00 Total loss paid r $3, 823. 53 Continental pays $1, 176. 47 pays $3, 823. 53 Total loss paid $5, 000. 00 In the case of Cromie vs. The Kentucky & Louis- v...ille Mutual Insurance Company, 15 B. Monroe (Ky. ), 432, the court made a rule for this class of cases, and it has been and is being generally used.
THE CROMIE RULE.
When the compound insurance covers property which is not covered by the specific insurance, a por- tion of the compound insurance, equal to the amount of loss on this property, must be set aside to pay this loss. . The remainder of the compound insurance con- tributes with the specific to pay the loss on the prop- erty covered by the specific insurance.
What to read after The Apportionment of Loss And Contribution of Compound Insurance a Clear Explan?
You can find similar books in the "Read Also" column, or choose other free books by William Henry Daniels to read onlineMoreLess
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