What is the definition of Multiple Peril Policy?
A Multiple Peril Policy provides protection against various perils or risks. This is usually provided for business and homeowners insurance and provides coverage for liability, casualty and property. In short, a group of insurance products wrapped up in one.
This kind of policy is also considered as all-risk insurance. It should be differentiated from a multiple protection insurance (which is for life insurance coverage and provides a combination of whole life and term insurance).
Examples of multiple peril insurance geared towards businesses (commercial lines) include Commercial General Liability (CGL), Business Crime, Inland Marine Insurance, Commercial Property Insurance, Business Automobile, Farmowners and Ranchowners Insurance, as well as Boiler and Machinery Insurance.
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- Municipal Bond Insurance
- Municipal Liability Insurance
- Mutual Holding Company
- Mutual Insurance Company
- Named Peril
- National Flood Insurance Program
- Net Annuity Cost
- Net Payment Cost Comparison Index
- Net Premiums Written
- No-Fault
- Mortgage-Backed Securities
- Mortgage Insurance
- Mortgage Guarantee Insurance
- Mortality Rate
- Mortality and Expense (M&E) Risk Charge
- Morbidity Rate
- Moral Hazard
- Money Supply
- Modified Premium Policies
- Misstatement of Age or Sex Provision