all-risks policy

all-risks policy

An insurance policy that covers all perils except those specifically excluded in writing.Mortgage lenders typically require an all-risks policy on their collateral.

References in periodicals archive ?
To ensure all transactions whose characteristics are defined in Annex SCC, this contract is to purchase an all-risks policy construction to guarantee all stakeholders in the construction, any damage being construction, including damage to existing parts the warranty conditions in the CCTP, without recourse against the said providers and their assureurs.
Going forward, costs are covered under the property all-risks policy held by the Owners' Association from Arab Orient Insurance.
Insurer Zurich said: "It's unusual for such a specific area of a person's anatomy to be covered on an all-risks policy.
While there are some proponents of an all-risks policy, there are problems with that in the sense that it gets back to the issue of rate suppression.
Garvey sought coverage for damage to his home under an all-risks policy.
In addition, the fine arts policy will likely be subject to breakage exclusion for fragile items whereas such an exclusion will not likely appear in an all-risks policy.

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