A Government program to insure crops of specific types, on an all-risk basis, against loss from unavoidable causes.
Insurance Encyclopedia
All risks
A property insurance which covers any accidental loss or damage that is not specifically excluded under the policy.
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A property policy expression now out of fashion. It was used to designate contracts that promised coverage against all risks of direct physical loss in contrast to forms that covered for specific, named perils. The word all came to be perceived as open to broader interpretation than insurers intended and it was dropped in favor of the promise to cover risks of physical loss. See Named perils and Open perils.
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UK: A term describing a property insurance covering any fortuitous loss or damage that is not specifically excluded. This contrasts with a policy covering physical loss or damage caused by a named peril, e.g. fire. The ‘all risks’ exclusions relate to inevitable forms of loss, such as depreciation and wear and tear, and other losses due to gradually operating causes. All risks’ cover is available for personal possessions, cameras, jewellery, industrial equipment and goods in transit, and applies to Institute Cargo Clauses A. Under household and commercial policies on buildings and contents, and cover on motor vehicles, the term has given way to ‘accidental loss or damage’ as a means of going beyond named perils cover.
All risks coverage
Property insurance covering loss arising from any fortuitous cause except those that are specifically excluded. This is in contrast to named perils coverage, which applies only to loss arising out of causes that are listed as covered. Although many industry practitioners continue to use the term “all risks” to describe this approach to defining covered causes of loss in a property insurance policy, it is no longer used in insurance policies because of concern that the word “all” suggests coverage that is broader than it actually is. Because of this concern, some industry practitioners have begun to use the term “open perils” or “
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US: Property insurance covering loss arising from any fortuitous cause except those that are specifically excluded. This is in contrast to named perils coverage, which applies only to loss arising out of causes that are listed as covered. Although many industry practitioners continue to use the term “all risks” to describe this approach to defining covered causes of loss in a property insurance policy, it is no longer used in insurance policies because of concern that the word “all” suggests coverage that is broader than it actually is. Because of this concern, some industry practitioners have begun to use the term “open perils” or “special perils” instead of “all risks.”
All-clause deductible
Insurance policy provision in which the deductible is met by a collection of eligible expenses incurred for any variety of covered claims within a given time period.
All-in policy
An alternative name for an in and out insurance policy.
All-inclusive rate
In a managed care contract, a flat fee charged daily by a facility (per diem rate) or for a total hospital stay. For submitting a Uniform Bill (UB-04) claim, revenue codes are 0100 (all-inclusive room and board plus ancillary) and 0101 (all-inclusive room and board). This is commonly billed by state psychiatric hospitals.
All-Line Insurer
An insurer whose underwriting authority includes the right to issue contracts on all types of insurance, including life.
All-lines exclusive agency system
See: multiple-line agency (MLA) system.
All-payer health care system
State system that helps in determining equal uniform prices on medical and hospital services across all providers and all public and private payers, for instance, a common fee schedule. Also referred to as all-payer system.
All-payer system
See: all-payer health care system.