What Is Peril?
The specific cause of a loss, such as fire, theft, windstorm, or collision. Insurance policies list which perils are covered.
Peril across 3 exams
Peril appears on the following exams. Each defines it in the context candidates are tested on:
- Property & Casualty
- The specific cause of a loss, such as fire, theft, windstorm, or collision. Insurance policies list which perils are covered.
- Personal Lines
- The specific cause of a loss, such as fire, theft, windstorm, or hail. Policies are written as either named-peril (covering only listed perils) or open-peril/all-risk (covering all perils except those excluded).
- All-Lines Adjuster
- The specific cause of a loss — such as fire, theft, windstorm, or hail — that an insurance policy may either cover or exclude.