BusinessAugust 24, 2026

multiperil

MUL-tee-per-ul

Definition

Refers to an insurance policy that provides coverage against multiple types of risks or hazards, such as fire, theft, and windstorm, within a single contract.

Etymology

Derived from the Latin 'multus' meaning 'many' and the Latin 'periculum' meaning 'danger' or 'risk'. It entered English usage to describe comprehensive insurance policies that bundle various risks together.

In the news

The article uses this term to classify USAA as a top insurer in the homeowners market, describing it as a provider of 'homeowners multiperil' coverage for its members.

USAA names a new board chairman as it returns to financial strength

Read the full article ↗

Insurance Business

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