All Risk Insurance is a type of insurance policy that covers loss for any incident including damage or loss due to theft, fire, water damage, and natural disasters, among others, that an insurance policy doesn’t specifically exclude. The All Risk Insurance offers more comprehensive coverage than property and casualty insurance however, the All Risk Insurance policies may not cover every possible risk or peril, it should be reviewed the policy carefully to understand exactly what is covered and what is not covered. (Also, called All-perils coverage)
Related Definitions in the Project: The Bond and Insurance; Risk Management
