PERIL
A specific risk or cause of loss covered by an insurance policy, such as a fire, windstorm, flood, or theft. A named-peril policy covers the policyholder only for the risks named in the policy in contrast to an all-risk policy, which covers all causes of loss except those specifically excluded.
ALSO SEE: BURGLARY AND THEFT INSURANCE, HOMEOWNERS INSURANCE POLICY, ADDITIONAL LIVING EXPENSES, BUSINESS INCOME INSURANCE, BEACH AND WINDSTORM PLANS, MARINE INSURANCE, CRIME INSURANCE, PACKAGE POLICY, FIRE INSURANCE, NAMED PERIL
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