A contractor carries the minimum required general liability insurance of $300,000. A job site accident results in $450,000 in damages. What is the contractor's personal liability exposure?
Correct Answer
D) $150,000
Personal liability = Total damages - Insurance coverage = $450,000 - $300,000 = $150,000.
Why This Is the Correct Answer
Personal liability = Total damages - Insurance coverage = $450,000 - $300,000 = $150,000.
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