Allied Industries, Inc insured an office building for 390,00 . for one year at a premium rate of 7.10 per thousand. At the end of nine months, the insurance company canceled the policy. Compute the amount of the refund received by Allied Industries, Inc
Q. 2Hartford Corporation insured a building for 400,00 . for one year at a premium rate of 6.50 per thousand. Six months later the Hartford Corporation sold the building and canceled the policy. The insurance company refunded the remaining half of the premium at the short-rate based on a penalty of 15 of the annual premium. Compute the amount that the six months of insurance cost the Hartford Corporation.
Q. 3Garnet Corporation insured a building for 370,00 . for one year at a premium rate of 6.50 per thousand. Three months later the Garnet Corporation sold the building and canceled the policy. The insurance company refunded the remaining three-quarters of the premium at the short-rate based on a penalty of 10 of the annual premium. Compute the amount the insurance company refunded.
Q. 4Brant Insurance Company insured Driver Moore at an annual premium of 1,000 . After 3 months, Brant Insurance Company canceled the policy. Compute the amount of the refund to Moore.
Q. 5Fuller Insurance Company insured Driver Hudson at an annual premium of 800 . After 2 months, Fuller Insurance Company canceled the policy. Compute the amount of the refund to Hudson.
Q. 6Cameron Insurance Company insured Driver Gifford at an annual premium of 740 . After 6 months, Gifford sold the car and canceled the insurance. Cameron Insurance Company refunded the remaining half of the premium at the short rate based on a penalty of 15. Compute the amount of the short-rate refund.
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