A term used to describe a policy which covers the Insured property against any fortuitous cause including acts of God (such as flood, cyclone, storm, earthquake), accident, disease, fire, theft and pilferages. It excludes those perils defined in the policy and inevitabilities such as wear and tear and depreciation. The term is misleading because no property policy is truly an all-risk coverage. There is a concerted effort to eliminate use of this term and to replace it with the term open peril coverage.