What does all risks insurance mean?

all risks insurance meaning in Law Dictionary

plan that addresses all danger except bad packaging, delay, built-in vice, or loss in market merely to name various. Risks placed in the policy are the ones that are not covered. The word has been eliminated AKA all danger insurance.

all risks insurance meaning in Business Dictionary

notably deceptive name for insurance coverage which, while supplying the largest as a type of insurance policy, typically excludes losings because of bad packaging, wait, inherent vice, losing market, etc. These types of guidelines don't name the risks covered but only record the exclusions; all unnamed risks tend to be instantly covered. The term 'All dangers' is now becoming phased out. In marine insurance coverage, for instance, the definition of 'institute cargo conditions (All dangers)' has-been replaced with the brand new term 'institute cargo conditions (A, B, and C)'. Also referred to as all danger insurance coverage, against all dangers.