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LC states "Insurance certificate covering ICC A clauses subject to 5% excess...". if the insured amount is USD100.00, the loss is USD4.
Q: how much is payable by the insurance company?

USD100X5%=USD5.00
if loss is USD4.00< USD5.00 Insurance co no need to pay anything
if loss is USD6.00>USD5.00 Insurance co need to pay USD6.00-USD5.00 = USD1.00

vivian