Gross insurance premium

Assignment Help Business Management
Reference no: EM131083079

Carol owns a delivery van, and insures it for a net annual premium of £684, which is the net cost after a deduction of 43% no claims bonus

Carol pays the net premium in 12 equal installments of £62.70. Carol had an accident and damaged her van. The cost of repairing the damage is £460.

The insurance company decides that the van was underinsured, and was insured for only 80% of its value. Carol 's gross insurance premium is increased accordingly. Carol 's no claims bonus is reduced to 18%.

Calculate:

1. The amount the insurance company pays towards the repairs

2. The new net annual premium charged by the insurance company.

Reference no: EM131083079

Questions Cloud

Deal with this glut of unqualified applicants : Recent economic difficulties, restructurings, and plant closing have left many people without jobs and looking for new career paths. A hiring employer can now enjoy being able to select from among far more applicants than typical.
Calculate the profit-maximizing price and quantity : Calculate the profit-maximizing price and quantity, if the firm operates in the short run (ignoring any possibility of rivalry "feedback" effects from its rivals)
Calculate k for the solute : Calculate (a) k for the solute and (b) a solvent composition that would bring k down to a value of about 10.
Which country would be the hardest to defend your client : If you were asked to defend a US citizen charged with a crime in another country, which country would be the hardest to defend your client in and why? Which would be similar to the US and why?
Gross insurance premium : The insurance company decides that the van was underinsured, and was insured for only 80% of its value. Carol 's gross insurance premium is increased accordingly. Carol 's no claims bonus is reduced to 18%.
A survey of voters finds that most respondents : A survey of voters finds that most respondents do not like negative political ads - that is, advertising by one political candidate that criticizes or exposes secrets about the opponent's "dirty laund
Describe the various kinds of pumps used in hplc : Describe the various kinds of pumps used in HPLC.
Prepare a proper statement of cash flows for jhutti company : Please prepare a proper Statement of Cash Flows for Jhutti Company using the Indirect Method in either Word or Excel. Handwritten copies will not be accepted!
Calculate daisy gross salary per month : (a) Write the ratio of their investments in its simplest terms (b) Calculate how much each partner received in total for the first 6 months of trading. Before payment of Daisy's net salary, deductions had been made totalling 18% of her gross salar..

Reviews

Write a Review

Business Management Questions & Answers

  What is the business model of p2p networks

What is the business model of P2P networks that operate today without any corporate sponsorship? How did The Pirate Bay business make money? What was its business model?

  Question related tonbsp effective communicationwhat is the

question related tonbsp effective communicationwhat is the importance of having effective communication in the

  Compute the improvement in multifactor productivity

Mabel's Ceramics spent $3000 on a new kiln past year, in belief that it would cut energy usage 25 percent over the old kiln. This kiln is an oven that turns "greenware" into finished pottery.

  Bad behaving executive in vegas

Last year, a new casino had its huge, very grand opening gala, which involved numerous A list guests, lots of gourmet food, and enough alcohol to float a boat.

  Illustrate instances of customer satisfaction

Determine the key reasons why Southwest Airlines has such high customer satisfaction ratings in comparison with other airlines. Provide two (2) examples that illustrate instances of customer satisfaction to support your position.

  Evaluate the role played by contract auditors

Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

  What are the seven basic steps in reviewing computer based

What are the seven basic steps in reviewing computer-based systems?

  Assume that you are going to start a business that is focuse

Assume that you are going to start a business that is focused upon providing a wireless high-speed Internet access service to a community where the only ability for residents to access the Internet is dial-up. Discuss how you would use different form..

  Problem regarding the product usage categories

Visit Minimus.biz (Follow the link located in required resources), a company specializing in individually-sized products. Review the different product categories along the left navigation panel of the home page.

  Discuss in relation to the agency problem

This situation gives professional managers an opportunity to pursue their own interest instead of that of shareholders. Major effort of researchers has been devoted to models in which capital structure is determined by agency costs.

  Organization process of strategic management

What are the factors or issues that contribute to how effective or ineffective the strategic management process is? Cite at least two references in your initial response.

  Step-wise answer to organizational behavior

"What is meant by group cohesiveness and identify threats that cannot be escaped without group collaboration?" Also explain the guidelines for managing team meetings.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd