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URL:https://www.learndesk.us/class/6271362765160448/lesson/4db0215ab9c32fe747095c5890879b2b?ref=outlook-calendar
SUMMARY:Recovery with Co-Insurance Clauses
DTSTART;TZID=America/Los_Angeles:20260527T190000
DTEND;TZID=America/Los_Angeles:20260527T200000
LOCATION:https://www.learndesk.us/class/6271362765160448/lesson/4db0215ab9c32fe747095c5890879b2b?ref=outlook-calendar
DESCRIPTION: Formula: Recovery = (Damage claim) x (Percent replacement cost covered ÷ Minimum coverage requirement)
Example: An owner insures a home for $100,000. The replacement cost is $150,000. A co-insurance clause requires coverage of 80% of the replacement cost to avoid penalty. Fire destroys the house. What can the owner recover from the insurer?
Claim recovery = $150,000 x (67% cost covered ÷ 80% required) = $125,625

https://www.learndesk.us/class/6271362765160448/lesson/4db0215ab9c32fe747095c5890879b2b?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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