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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Named Perils


Synonyms:insured peril
Filed Under: insurance
Tags: insurance
 

Definition of named perils

named perils
1. Specific named liabilities covered by an insurance policy. Common examples of named perils include lightning, fire, theft, explosions, and windstorms.

Related Terms and Acronyms:

  • general liability insurance   Insurance that protects individuals and businesses from a number of potential liabilities.
  • named perils insurance policy   Insurance that only provides coverage in the event of a loss from a peril specifically named in the insurance policy.
  • peril   Anything that poses a risk of loss, which may or may not be insurable depending on the potential for risk.

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