 A policy that covers loss caused by any cause of loss which is not excluded, as contrasted to "named peril" policies which protect against certain perils named in the policies. Usual to certain types of property and marine insurance contracts, the term "all risk" frequently appears in quotes, since such coverage includes "almost" all risks (i.e., all but those excluded).
An all-risk policy covers your business from damages caused by any type of disaster with the exception of those specifically excluded in the policy.Such a policy spells out the specific events for which you are covered. The cost of the premiums will depend on the location of the business and the likelihood of the specific perils.
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