Question

Super Value Store has a commercial general liability policy written with a general aggregate limit of $300,000 and an occurrence limit of $100,000. A customer injured on the premises was awarded $45,000 for medical expenses and loss of earnings, and $60,000 for pain and suffering. The court costs and attorney fees were $15,000. How much will the CGL policy pay?

Answer 1

Answer:

$115,000

Explanation:

The computation of the amount paid is as follows:

= Occurrence limit + court cost & attorney fees

= $100,000 + $15,000

= $115,000

Hence, the amount paid by the CGL policy is $115,000

It could be come by applying the given formula in order to get the correct value and the same is relevant too.