An all-risk policy pays for losses from damage to property when the cause of damage was direct, sudden and accidental and is not excluded from your policy. An "all-risk" policy covers all perils (causes of loss) that are not specifically listed as excluded within the policy. May also be referred to as "comprehensive" or "open peril."
A term commonly used to describe broad forms of property or liability coverage. It is misleading because no property or liability policy truly provides an all-risk coverageâ€“ a policy will invariably contain some exclusions.
Any incident or event, natural or human-caused, that warrants action to protect life, property, environment, public health and safety and minimize disruption of governmental, social and economic activities.