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.

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MS Amlin launched a comprehensive all-risks policy designed for the technology sector in the UK.
MS Amlin Launches Comprehensive All-Risks Policy for UK Tech Sector
A fire insurance, which does not specify the perils excluded therefrom, may be classified as an 'all-risks policy,' which covers all risks whatsoever, including those which happen by chance or fortuitously, without intention to design, and which is unexpected, unusual and unforeseen, such as natural calamities.
"It is a pretty encompassing policy and considered to be an all-risks policy, but as everyone knows, all-risk policies don't cover everything," Adams said.
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. However, it agrees to compensate Silentnight in the eventuality of the loss of this man's expertise - say a reduction in his buttocks' sensitivity."
"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. He alleged that the damage was caused by a contractor's error, a non-excluded event, as well as by landslide, an excluded event.
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.
An all-risks policy to cover the whole project is necessary and personal accident cover would be a good investment.

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