A sudden and unforeseen event.

Act of God

An event caused by the forces of nature.

Additional premium

The extra premium payable because of an endorsement.

All risks

An all risks policy covers loss or damage including accidental damage to the property insured. This form of insurance usually has very few specified exclusions.


The malicious and/or fraudulent burning of property.


A policy condition that states that if an asset or assets are underinsured, the person insured will be responsible for a ratable proportion of the loss.