All Risk Insurance

(redirected from Multi-Peril Policies)

All Risk Insurance

Marine cargo insurance which covers most perils except strikes, riots, civil unrest, capture, war, seizure, civil war, piracy, loss of market, and inherent vice.

All Risk Insurance

An insurance policy that covers all possible claims not specifically excluded. All risk insurance is found only in property insurance. Homeowners insurance in sometimes all risk insurance. If one's homeowners insurance is an all risk policy and the house burns down, the insurance policy covers it unless the agreement states categorically that it will not cover destruction by fire. All risk insurance is usually quite expensive.
References in periodicals archive ?
s authority to write commercial non-residential multi-peril policies per Florida statute 627.
SAFECO plans to make additional commercial insurance products -- including commercial automobile, workers' compensation and commercial multi-peril policies -- available through ESP in 2003 and 2004.
That's because multi-peril policies often contain a provision that totally excludes coverage for any loss more specifically described by another contract of insurance, then adds excess coverage back.
The legislation also authorizes Citizens to write multi-peril policies in the high-risk account coverage areas.
That means, for example, residential homeowners with multi-peril policies would likely get a statewide increase of 3.
the company mainly writes workers' compensation and commercial multi-peril policies.
Also state-run, Citizens provides full wind, hurricane, and hail coverage to residential and commercial properties in the state and can now, per the reform legislation, provide multi-peril policies in high-risk areas.
Mercer Mutual markets homeowners and commercial multi-peril policies, as well as other liability, workers compensation, fire, allied, inland marine and commercial automobile coverages through approximately 160 independent agencies.

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