The Direct Risk of Physical Loss Policy
Although it is written in the same fashion as the all risk policy, the direct risk of physical loss policy limits coverage by eliminating the use of the word “all.” It is not bound by the judicial definition of the term “all” as including everything and excluding nothing. The direct risk of physical loss policy does not insure against “all risks of physical loss.” It only insures against “direct risks of accidental physical loss.”
The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library.
(c) 2015, Barry Zalma
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