(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. (2) A 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.