MI Public Adjuster Practice Questions - Michigan Public Adjuster Exam

What is 'pro rata' allocation in the context of 'other insurance'?

Each policy pays an equal share Each insurer pays a share of the loss proportional to its policy limit relative to the total available coverage from all policies The oldest policy pays first The newest policy pays first

Correct Answer:

Each insurer pays a share of the loss proportional to its policy limit relative to the total available coverage from all policies

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