Comment

The performance of the candidates in this question was commendable especially in identifying and explaining the principles involved 

            (c)        Calculation of the actual claim due to the insured in the case.

The two insurance companies must contribute ratably to pay for the loss of NN4,000,000 due to Ekwema Industries Limited.            

                                                                                            Sum Insured

ABC Insurance Company P1c                     NI5,000,000

BYC Insurance Company LtdNI0,000,000
                        Total sum insured with two companies        N25,000,000

Loss                                         =                   N4,000,000

ABC's share of the loss  =  15,000,000   x    4,000,000         =             N2,400,000
                                                   25,000,000                   1

                     BYC's share of the loss   = 10,000,000    x    4,000,000      =            Nl,600,000
                                                 25,000,000               1

Ekwema Industries Limited will be entitled to N2,400,000 and NI,600,000 respectively from
ABC Insurance Company PIc and BYC Insurance Company Limited.

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