All Risks
Definition of "All risks"
Insurance that covers each and every loss except for those specifically excluded. If the insurance company does not specifically exclude a particular loss, it is automatically covered. This is the broadest type of property policy that can be purchased. For example, if an insurance policy does not specifically exclude losses from wind damage, or from a meteor falling on the insured's house, the insured is covered for such losses.
Popular Insurance Terms
Means of land title registration used in some states that in effect, provides a government sponsored form of title insurance. Under this system, a government official, such as county ...
1965 federal law that provides for medical assistance to those who cannot afford to pay for it. Four categories of the needy can qualify: aged, blind, disabled, and families with dependent ...
Entitlement of a participant in an employee benefit insurance plan to receive benefits regardless of his or her employment status. ...
Plan in which funds are currently allocated to purchase retirement benefits. An employee is thus assured of receiving retirement payments, even if the employer is no longer in business at ...
Coverage for paintings, pictures, etchings, tapestries, art glass windows, antique furniture, coin collections, and stamp collections owned by individuals and businesses. These works are ...
Three types of damages can be awarded to a plaintiff: Special Damages reimbursement for out-of-pocket expenses, including medical bills, legal charges, cost of repairing damaged or ...
Technique designed to permit the exchange of a life insurance policy that has an outstanding loan charged against it for another life insurance policy on a tax-free basis. The procedure is ...
Individual who retains title to property that is being transferred on a temporary basis to the care, custody, and/or control of another. ...
Accounting procedures that defer the full funding of a life insurance net level premium reserve to accommodate the policy acquisition cost in the early years of a policy. First-year policy ...
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