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<make sure to review the rubric to see how you’ll be graded (it’s below the instructions).

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Purpose
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Our readings took us through chapters 16 and 10, focusing on preferred medical coverage and the affordable care act. Our assignment gives us an opportunity apply our thinking looking at the 6 basic parts to an insurance contract, and the Affordable Care Act. In addition, our scenario gives us an opportunity to examine how a commercial property insurance policy protects a small warehouse from a fire in a storage area.
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Instructions
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Your assignment is in two parts. First, you will answer two questions, then you will apply what you have learned answering the scenario below.
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Identify the major provisions of the Affordable Care Act affecting individuals, families, and employers. (The response to this question should be 150 – 200 words.)
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What are the 6 basic parts (in your own words) to an insurance contract? Provide a definition of each in your own words. (The response to this question should be 150 – 200 words.)
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Make sure to review the rubric to see how you’ll be graded (it’s below the instructions).
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Scenario Question:
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Debbie owns a small warehouse that is insured for $300,000 under a commercial property insurance policy. The policy contains an 75% coinsurance clause. The warehouse sustained a $60,000 loss because of a fire in a storage area. The replacement cost of the warehouse at the time of loss is $600,000.
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What is the insurer’s liability, if any, for this loss? Show your calculations.
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Assume that Debbie carried $600,000 of property insurance on the warehouse of the time of the loss. If the amount of the loss is $15,000, how much will she collect?
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Explain the theory or rationale of coinsurance in a property insurance contract.
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Complete the following steps:
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Answer each question in paragraph form, following the word counts using proper sentence structure, grammar, spelling and punctuation and using coordinated labeling. (i.e. a, b, c…).
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Type your name, assignment name, and date in the upper right-hand corner of your paper.
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Make sure to review the rubric to see how you’ll be graded (it’s below the instructions).
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Submit your assignment in Microsoft Word or PDF format.
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Turnitin
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This tool will help you recognize areas that need citations, and help you catch accidental plagiarism. Once you submit your work, please look at the report that comes up, and make changes accordingly. The higher the percentage, the greater the amount of text in the submission that was highlighted as matching against information in Turnitin’s repositories.

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