Depreciation as a Potential Saving
This paper discusses and presents the different arguments for and against depreciation being regarded as a saving within business interruption claims.
Reference is made to the various circumstances that can exist in relation to the assets of an Insured. The paper concentrates on those claim scenarios where assets are destroyed and replaced at reinstatement value by the material damage Insurers. A total of fifteen arguments are considered by the CILA Business Interruption SIG committee, with for and against commentary provided for each.
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