exali Glossary
Your encyclopedia of technical terms used in the insurance industry
The insurance industry is full of technical terms—from insurance policies and obligations to recourse claims. To help you keep track of everything, the exali glossary explains the main insurance terms in a simple, understandable, and practical way.
In the exali glossary, you will find not only definitions, but also practical examples, legal information, and references to the appropriate insurance coverage. This way, you always know where the risks lie—and how to protect yourself against them.
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Risk coverage
Risk coverage refers to a type of insurance that only covers specific risks expressly mentioned in the contract. If damage occurs, it is only covered if it was directly caused by one of these insured risks.
This form of coverage contrasts with all-risk coverage, which covers all risks that are not expressly excluded.
Examples of hazard coverage
- Fire insurance: only applies to fire damage
- Storm insurance: covers damage above a certain wind speed
- Burglary insurance: only insures damage caused by burglary, not vandalism without burglary
- Natural hazard insurance: covers, for example, flooding, earthquakes, or avalanches—but only if these hazards are explicitly mentioned
Term: Risk coverage
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