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<br /> b. The most we will pay for the total of (b) Estimated for the 12 months <br />Business Income loss and Extra Expense is immediately following the inception <br />the lesser of: of this Optional Coverage. <br /> (1) The amount of loss sustained and (2) The Declarations must indicate that the <br />expenses incurred during the 120 days Business Income Agreed Value Optional <br />immediately following the beginning of Coverage applies, and an Agreed Value <br />the "period of restoration"; or must be shown in the Declarations. The <br />Agreed Value should be at least equal <br /> (2) The Limit Of Insurance shown in the <br />to: <br />Declarations. <br /> (a) The Coinsurance percentage shown <br /> 2. Monthly Limit Of Indemnity <br />in the Declarations; multiplied by <br /> a. The Additional Condition, Coinsurance, <br /> (b) The amount of Net Income and <br />does not apply to this Coverage Form at the <br />operating expenses for the following <br />described premises to which this Optional <br />12 months you report on the Work <br />Coverage applies. <br />Sheet. <br /> b. The most we will pay for loss of Business <br /> b. The Additional Condition, Coinsurance, is <br />Income in each period of 30 consecutive <br />suspended until: <br />days after the beginning of the "period of <br />restoration" is: (1) 12 months after the effective date of this <br />Optional Coverage; or <br /> (1) The Limit of Insurance, multiplied by <br /> (2) The expiration date of this policy; <br /> (2) The fraction shown in the Declarations <br />for this Optional Coverage. whichever occurs first. <br />Example c. We will reinstate the Additional Condition, <br />Coinsurance, automatically if you do not <br />When: The Limit of Insurance is: $120,000 <br />submit a new Work Sheet and Agreed <br /> The fraction shown in the <br />Value: <br />Declarations for this Optional <br /> (1) Within 12 months of the effective date of <br />Coverage is: 1/4 <br />this Optional Coverage; or <br /> The most we will pay for loss in <br /> (2) When you request a change in your <br />each period of 30 consecutive <br />Business Income Limit of Insurance. <br />days is: $30,000 <br /> d. If the Business Income Limit of Insurance is <br /> ($120,000 x 1/4 = $30,000) <br />less than the Agreed Value, we will not pay <br /> If, in this example, the actual <br />more of any loss than the amount of loss <br />amount of loss is: <br />multiplied by: <br /> Days 1–30: $40,000 <br /> (1) The Business Income Limit of <br /> Days 31–60: $20,000 <br />Insurance; divided by <br /> Days 61–90: $30,000 <br /> (2) The Agreed Value. <br /> $90,000 <br />Example <br /> We will pay: <br />When:The Limit of Insurance is: $100,000 <br /> Days 1–30: $30,000 <br />The Agreed Value is: $200,000 <br /> Days 31–60: $20,000 <br /> The amount of loss is: $80,000 <br /> Days 61–90: $30,000 <br />Step (1): $100,000 ø$200,000 = .50 <br /> $80,000 <br />Step (2): .50 x $80,000 = $40,000 <br /> The remaining $10,000 is not covered. <br />We will pay $40,000. The remaining $40,000 is not <br /> 3. Business Income Agreed Value <br />covered. <br /> a. To activate this Optional Coverage: <br /> 4. Extended Period Of Indemnity <br /> (1) A Business Income Report/Work Sheet <br />Under Paragraph A.5.c., Extended Business <br />must be submitted to us and must show <br />Income, the number 60 in Subparagraphs <br />financial data for your "operations": <br />(1)(b) and (2)(b) is replaced by the number <br /> (a) During the 12 months prior to the <br />shown in the Declarations for this Optional <br />date of the Work Sheet; and <br />Coverage. <br />Page 8 of 9 © Insurance Services Office, Inc.,2011 CP 00 30 10 12 <br /> <br /> <br />