All Risks

Summary of All Risks

A form of marine insurance coverage which provides that the insurer will be liable to the policyholder for all risks of loss or damage attributable to external forces, other than perils expressly omitted.

(Main Author: William J. Miller)

Definition of All Risks (ar) in International Trade

The following is a concept of All Risks (ar) in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): The broadest type of standard marine insurance coverage generally available and offered by the London Institute of Underwriters “A” Clauses. The name is misleading, as “all risks” does not include coverage for the perils of war risk, strike, riot and civil commotion. These additional coverages are available for most markets, usually at modest additional premiums in the market. Since there is no worldwide standard nomenclature for all risks coverage, traders should determine exactly what is/is not covered, and arrange for any additional coverage they deem necessary.