Against All Risks - AAR
Categories: Insurance, Regulations
It might be the text of a tattoo you see on a stuntman's bicep. Or the final despondent epitaph for an addicted gambler, scrawled in the margins of a cheap bible stuffed into the night stand of a run-down pay-by-the-week Vegas motel.
Or it might be a form of insurance policy. We'll talk about the insurance version here.
This is an insurance policy that covers anything not explicitly excluded by the contract agreement. (See: All Risks Coverage). Basically, the person or company buying this type of policy has insured themselves "against all risks," rather than purchasing individual policies each specifying a particular, limited potential risk.
