Insurance claims- group1

388 views 1 replies

any one pls rply urgnt,

lasy year sale                                                         500000

NP last year                                                            40000

insured standing charges                                   60000

sales during dislocation period                          20000

corresponding sales in previous year               80000

annual turnover                                                      600000

additional expenses                                              5000

total standing charges                                           90000

policy amount                                                          50000

calculate claim....

any one pls solve this question.... it's urgent..... 

Replies (1)

Net claim = 6667

Adjusted G.P .rate = 20 %

short sales = 60000

gross profit lost = 12000

Insurable value = 120000

allowable increased cost of working = 4000 ( un insured standing charges =30000)

gross claim =16000


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