Maintenance Deductible definition
Maintenance Deductible means, as to any one Loss, that portion payable by the Member directly and not NPAIP or its excess insurers or reinsurers.
Maintenance Deductible means, as to any one Loss, that portion payable by the Member directly and not PACT or its excess insurers or reinsurers.
Maintenance Deductible. The amount paid by the “Member” before the loss is paid by the “Self Insured Retention.” This is a nominal amount designed to protect the “Loss Fund” from small claims. The “Maintenance Deductible” applies only to property, automobile physical damage and crime losses.”
Examples of Maintenance Deductible in a sentence
The Board shall determine for each pooling program, described in Section 1 above, a minimum participation for program implementation, which shall be communicated to each Member and shall establish the amount of any Maintenance Deductible upon agreement with the excess insurers involved.