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Insurance Definition: PERIL

By Compuquotes Team on March 27th, 2008

PERIL:

Definition:

  • 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.

Information provided by Insurance Information Institute

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