CANADIAN INSURANCE TERM
Peril
A cause of loss or damage, such as fire, theft, wind or another event described in the policy.
Plain-language definition. A real policy, endorsement and provincial law can use more specific wording than a glossary summary.
TermPeril
ContextCanadian insurance
Source typeIndustry glossary
Policy wordingControls claim
What does Peril mean?
A cause of loss or damage, such as fire, theft, wind or another event described in the policy.
Insurance policies can cover named perils, broader forms of loss, or combinations of both. The exact contract determines whether a particular cause is insured.
Peril in practice
Fire can be a peril covered by a property policy, while the policy may apply different wording to flood or sewer backup.