All Risk :
– shipping related
An aircraft for the carriage of cargo only, rather than the combination of passengers and cargo. The all¬cargo aircraft will carry cargo in bulk or container in the main deck as well as in the lower deck of the aircraft. It may include a scheduled and/or nonscheduled service.
Extensive insurance coverage of cargo, in¬cluding coverage due to external causes such as fire, colli¬sion, pilferage etc., but usually excluding special risks such as those resulting from acts of war, labor strikes, the perishing of goods, and from internal damage due to faulty packaging, decay or loss of market.
All risk insurance covers only physical loss or damage from external cause(s) and specifically affirms the exclu¬sion of war ri As and strikes and riots unless covered by endorsement. These losses are excluded, either by ex¬pressed exclusions, conditions or warranties written into the policy or by implied conditions or warranties that are read into every marine policy by legal interpretation.
An all risks policy may expressly exclude certain types of damage such as marring and scratching of unboxed au¬tomobiles or bending and twisting entirely or unless amounting to a specified percentage or amount.
Also, certain perils such as war and strikes, riots and civil commotions are commonly excluded, but these perils can be and usually are reinstated, at least in part, by special en¬dorsement or by a separate policy.
The all risk clause is a logical extension of the broader forms of with average coverage. The all risk clause gen¬erally reads:
To cover against all risks of physical loss or damage from any external cause irrespective of percentage, but exclud¬ing, nevertheless, the risk of war, strikes, riots, seizure, de¬tention and other risks excluded by the F.C. & S. (Free of Capture and Seizure) Warranty and the S.R.&C.C. (Strikes, Riots and Civil Commotion) Warranty in this policy, excepting to the extent that such risks are specifi¬cally covered by endorsement.
– air shipments
All risk insurance of air shipments usually excludes loss due to cold or changes in atmospheric pres¬sure - average; with average; free of particular average; inherent vice, war risk - strikes, riots and civil commotion
– insurance related
An amount paid or credited by a seller as a refund or reim¬bursement due to any one of a number of causes includ¬ing: faulty packaging, shipment of goods which do not meet buyer’s specifications, a late shipment, etc.
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