ABC Insurance retains the first $1 million of each property damage loss and purchases insurance for that part of any property loss that exceeds $1 million. The insurance for property losses above $1 million is called

Insurance

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ABC Insurance retains the first $1 million of each property damage loss and purchases insurance for that part of any property loss that exceeds $1 million. The insurance for property losses above $1 million is called

A) excess insurance.

B) liability insurance.

C) coinsurance.

D) primary insurance.

Answer: A) excess insurance.

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