GlossaryEN1 min readUpdated: Jun 13, 2026

Named Perils Coverage

Named perils coverage is an insurance arrangement that covers losses only when caused by perils explicitly listed in the policy document.

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Last updated: 13 June 2026Published: 27 January 2026

Source: https://www.investopedia.com/terms/n/named-perils.asp

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Named perils coverage is an insurance arrangement that covers losses only when caused by perils explicitly listed in the policy document. Any loss from an unlisted cause—whether inherent vice, ordinary wear, or market fluctuation—falls outside the insured's protection, making this approach fundamentally narrower than all-risks coverage. Shippers favour this option when premiums matter more than comprehensive protection; underwriters favour it when exposure can be tightly controlled. The insured bears the burden of proving that the loss-causing peril appears on the named list.

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Named Perils Coverage

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