(1) A deductible provision sometimes used in business interruption
(BI) and other
time element policies, in lieu of a dollar amount deductible, that establishes
that the insurer is not responsible for loss suffered during a specified period
(such as 72 hours) immediately following a direct damage loss.
deductible mechanism in disability income policies and under workers compensation
statutes that establishes a period that must pass following an accident
or illness causing disability before salary continuation benefits are payable.
See also Deductible.
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