Identifying in an insurance policy the specific perils covered is a __________ approach.

Question

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A named-peril approach identifies specific perils that are covered by the insurance policy, such as fire, theft, and vandalism. This approach is in contrast to an all-risk approach, which covers all perils except for those specifically excluded. A no-risk approach and coinsurance are not approaches for identifying perils covered by an insurance policy.

Identifying in an Insurance Policy the Specific Perils Covered Is