Common use of Deductible/Retention Clause in Contracts

Deductible/Retention. Except with respect to coverage for Property Damage Liability, the Commercial General Liability coverage shall apply on a first dollar basis without application of any deductible or self-insured retention unless the School is governed by a municipality. The coverage for Property Damage Liability may be subject to a maximum deductible or self-insured retention of One Thousand dollars ($1,000) per occurrence. If the School is governed by a municipality, then Sponsor’s Risk Management Department can elect to accept program deductibles/Self-Insured Retentions. The municipality governing this school will be responsible for any outstanding deductibles/Self-Insured Retentions if the School is unable to meet its financial obligations.

Deductible/Retention. Except with respect to coverage for Property Damage Liability, the Commercial General Liability coverage shall apply on a first dollar basis without application of any deductible or self-insured retention unless the School is governed by a municipality. The coverage for Property Damage Liability may be subject to a maximum deductible or self-insured retention of One Thousand dollars ($1,000) per occurrence. If the School is governed by a municipality, then Sponsor’s Risk Management Department can elect to accept program deductibles/Self-Insured RetentionsRetentions (SIR’s). The municipality governing this school will be responsible for any outstanding deductibles/Self-Insured Retentions SIR if the School is unable to meet its financial obligations.