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Business, 15.04.2020 02:42 unicornsflyhigh

Management has determined that there is one chance in a thousand of a customer being injured or killed. The settlement of resulting lawsuits has an average cost of $750,000. Insurance with a $50,000 deductible is available. It covers the costs of lawsuits unless there is evidence of criminal negligence. Based on cost-benefit analysis, what are the most that the business should pay for the insurance?

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