What does ‘All Risks’ Mean?

All Risks is an insurance term which has been defined at law.

In simple terms it may be said to be any risk which is:

The risks do not have to be individually specified in the insurance policy although it is usual for certain risks to be specifically excluded.

The term therefore only applies to those risks which are insurable risks, that is to say those risks which do not have a high degree of inevitability or which arise from the deliberate act or omission of the insured.

Such cover was traditionally only provided in respect of goods and property.

However the term has increasingly been incorporated into insurance policies covering the liability of carriers and other bailees arising out of the carriage, handling and storage of goods.