A company intended to sell a high end refrigerator which included French doors, external water and ice dispenser for $10,499 but mistakenly advertised it for $8,449. The company honored the advertising price and sustained a loss of $2,050. The company has an unendorsed CGL policy. The company intends to file a claim for this loss with its insurer. Is this a covered loss? Explain your answer referring to the coverage involved, insuring agreement and any exclusions that may apply.

A company intended to sell a high end refrigerator which included French doors, external water and ice dispenser for $10,499 but mistakenly advertised it for $8,449. The company honored the advertising price and sustained a loss of $2,050. The company has an unendorsed CGL policy. The company intends to file a claim for this loss with its insurer. Is this a covered loss? Explain your answer referring to the coverage involved, insuring agreement and any exclusions that may apply.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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