<p>Each loss or series of losses arising out of any one event will be adjusted as one single loss. The adjusted loss will be net of salvage and other recoveries. From each adjusted loss the Deductible amount specified in the Schedule will be deducted. Where two or more Deductibles could apply under the same Section, only the highest single Deductible will apply.<br />
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As respect of theft, the term Loss as referred to elsewhere within the Policy means the sum total of all losses of covered property resulting from one or more concealed acts committed by one person or more than one person acting in unison to the extent such loss is not otherwise excluded under this Policy.<br />
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Any loss of or damage to the Interest Insured arising during any one period of seventy two (72) consecutive hours, caused by storm typhoon flood, volcanic eruption or earthquake or any other natural peril shall be deemed as a single event and shall constitute one occurrence with regard to the deductible provided for herein. For the purposes of application of Deductible the commencement of any such seventy two (72) hour period shall he decided at the discretion of the Insured. However, that there shall he no overlapping in any two or more such seventy two (72) hour periods in the event of damage occurring over a more extended period of time.</p>
