All Risk Insurance

(redirected from Multi-Peril Policy)

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 ?
In the early 1950s, the homeowners' insurance policy was introduced and the special multi-peril policy was developed to combine commercial lines policies.
Policyholders can purchase all-risk coverage for some types of equipment and expanded coverage for business interruption as options with our commercial multi-peril policy.
One contract is a multi-peril policy that adds crime coverage as an option.
That rule sometimes becomes important when one insurer has issued a multi-peril policy and another is providing monoline coverage.
one who can demonstrate seven years of coverage under a comprehensive general liability policy, commercial multi-peril policy or similar policies during any continuous 14-year period ending before 1986) must submit pending claims for potential settlement.
Regis") sought declaratory judgment to resolve a dispute over the extent of its coverage obligations to All-American Rathskeller ("Rathskeller") under a special multi-peril policy.
PHILADELPHIA -- While the fatal assault of a bar patron constitutes an occurrence under a multi-peril policy, coverage for a suit stemming from the incident is excluded by the policy's assault and battery exclusion, a federal judge here ruled Dec.
For businesses, the commercial multi-peril policy, introduced in 1958, combined commercial property and general liability and coverages such as boiler and machinery or marine.

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