What is the cost of loss formula?
A . K = (Cp + Ct + Cr + Ci) C (I- a), where: K = criticality, total cost of loss Cp = cost of temporary insurance Ct = cost of temporary substitute Cr = total related costs Ci = lost income costs I = available insurance or indemnity a = allocable insurance premium amount
B. K = (Cp + Ct + Cr + Ci) C (I- a), where: K = criticality, total cost of loss Cp = cost of permanent insurance Ct = cost of temporary substitute Cr = total related costs Ci = lost income costs I = available
insurance or indemnity a = allocable insurance premium amount
C. K = (Cp + Ct + Cr + Ci) C (I- a), where: K = criticality, total cost of loss Cp = cost of permanent replacement Ct = cost of temporary substitute Cr = total related costs Ci = lost income costs I = available insurance or indemnity a = allocable insurance premium amount
D. K = (Cp + Ct + Cr + Ci) C (I- a), where: K = criticality, total cost of loss Cp = cost of permanent replacement Ct = cost of temporary substitute Cr = total insurable costs Ci = lost income costs I = available insurance or indemnity a = allocable insurance premium amount
Answer: C
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