All Risk Insurance

(redirected from Multiperil Insurance)

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 ?
PIFF's members include many of the state's top writers of private passenger auto and homeowners multiperil insurance. Together, PIFF members write more than $13 billion in premium in the state.
Collado proposed a multiperil insurance package which may cover damage to crops caused by biotic and abiotic stresses such as harmful insects and intense sunlight.
First-quarter net income for Universal Insurance, the third-largest writer of homeowner's multiperil insurance in the Sunshine State, was $9.9 million compared to $13.9 million during the same time last year.
The extension also excluded commercial auto, burglary and theft, surety, and farm owners multiperil insurance from its definition of property and casualty insurance.
* Changes Citizens Property Insurance Corp.'s rates to make it the most competitive homeowners insurer in Florida; opens door to allow Citizens to pick up commercial coverages currently written by the Property Casualty Joint Underwriting Association (subject to state approval); allows Citizens to write multiperil insurance in high-risk areas.
The Texas data also combine all homeowners multiperil insurance policy forms and do no t provide a breakdown by policy form.
Today, American States is involved in most types of property/casualty coverage, including auto liability and damage, commercial multiperil insurance, worker compensation and homeowner policies.
He specializes in Kaye's comprehensive multiperil insurance program especially designed for residential real estate properties.
Safeco Insurance Cos., California's ninth-largest writer of homeowners multiperil insurance, said it estimates pretax catastrophe losses from the wildfires to total about $35 million.
The 65% "tipping point" was reached for homeowners multiperil insurance; private-passenger automobile physical damage; private-passenger automobile no-fault; other private-passenger automobile liability; boiler and machinery; and financial guaranty.
Harrisburg, Pa.-based Penn National boasted an adjusted loss ratio of 58.8 in 2001 for its auto insurance and 50.3 for its homeowners multiperil insurance. The company, the 100th-largest homeowners writer and the 84thlargest auto personal-lines insurer, writes business in six states and offers standard, preferred and preferred advantage--a "super-preferred--programs, said Ralph Leventhal, director of personal lines for the company.