In Insurance the term “peril” is: The cause of an injury, The reason something is damaged or destroyed, The way something was lost or is no longer in your possession. Insurance companies generally label a particular risk as a “peril” which may cause a loss or damage. A peril may include such things as fire, earthquake, windstorm, flood, or theft to name just a few. Most Insurance policies, breakdown perils into several categorize: Named Peril coverage sometimes known as Specified Peril Insurance. These policies cover losses for only a named peril specifically stated in the policy. For example, a Standard … Continue reading →