If I understand it then, if we have 20 fires and each one is worth an average of $500,000, that totals $10 million in a year. The first $10 million we just pay for the replacement ourselves. We don't put in a claim for insurance. So that's up to $10 million a year that we could be spending out of our pockets in replacing fire damaged...The balance then. After $10 million, is there any deductible? Say there's a fire and the damages are worth $1,000, do we just put in for $1,000 and get that or is there a deductible? Excuse me, let me start again. Is there a deductible that would reduce the amount we would receive in claims after $10 million?
Charles Dent on Bill 32: Supplementary Appropriation Act, No. 2, 2003-2004
In the Legislative Assembly on October 7th, 2003. See this statement in context.
Bill 32: Supplementary Appropriation Act, No. 2, 2003-2004
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
October 7th, 2003
Page 1291
See context to find out what was said next.