Cajun Catering Company experiences an insured loss of $850,000 while having insurance coverage beyond its coinsurance requirement. The insurance is divided among Company A with $500,000 coverage and Company B with $750,000 coverage.
Part A: Determine the fractional coverage from Company A. Show your work.
Part B: Determine the fractional coverage from Company B. Show your work.
Part C: Determine the amount paid by each insurance company. Show your work.