Causes of loss

Term · Insurance and risk management · MLC-T-INS-000716

The perils or events that trigger coverage under an insurance policy, leading to a claim for damages or losses. Policies specify which causes of loss are covered, such as fire, theft, windstorm, or vandalism, and which are excluded. These are categorized as either named perils, where only listed events are covered, or open perils, where all events are covered unless specifically excluded.

Table 1. Record
Identifier	MLC-T-INS-000716
Field	Insurance and risk management
Subject	Businessowners Policy

Record as JSON

{
  "id": "MLC-T-INS-000716",
  "term": "Causes of loss",
  "field": "Insurance and risk management",
  "definition": "The perils or events that trigger coverage under an insurance policy, leading to a claim for damages or losses. Policies specify which causes of loss are covered, such as fire, theft, windstorm, or vandalism, and which are excluded. These are categorized as either named perils, where only listed events are covered, or open perils, where all events are covered unless specifically excluded.",
  "subject": "Businessowners Policy",
  "url": "https://mlchart.com/terminology/insurance/causes-of-loss/"
}

Record 499 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.