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Q18.
1
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In insurance speak, a ‘franchise’ is the same as a deductible or excess.
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Q18.
2
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Time deductibles are an equitable way to dispense with disruptions of a short duration that are really best self-insured.
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Q18.
3
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While it is often not stated in the policy, the most reasonable/equitable approach is to base the apportionment of any expense incurred as an Increase in Cost of Working, between the Insured and the insurer, based on the benefit derived from any expenditure between the period covered by the time deductible and the balance of the period of disruption, rather than when the expenditure is incurred or the expense is paid.
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Q18.
5
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One of the generally accepted accounting principles is that expenses should be matched to the revenues that the expense has helped generate.
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