A specific risk or cause of loss covered by an insurance policy, such as a fire, windstorm, flood, or theft. A named-peril policy covers the policyholder only for the risks named in the policy in contrast to an all-risk policy, which covers all causes of loss except those specifically excluded.

"Peril" In Context

"In response to my recent article: “Modernize Wall Street Regulation Instead of Occupying the Industry” (“Street Sweeper” March 13, 2012), I received a lengthy, apparently heart-felt query from someone purporting to be an unemployed, 29-year-old ..."