phrase
named peril
In plain English
A property policy that only covers losses from causes specifically listed (fire, lightning, wind, etc.) — anything not listed is not covered.
The opposite of all-risk (open peril) coverage. Named peril is older and narrower. Most modern homeowners and commercial property policies are all-risk on the structure with named peril on personal property.
What it covers
Only the perils specifically listed on the form. Common ones: fire, lightning, windstorm, hail, explosion, smoke, vandalism, theft, falling objects, weight of ice/snow, water damage from plumbing.
What it does not cover
It does NOT cover anything not listed. If a peril isn't on the schedule, it isn't covered. Burden of proof is on the insured to show the loss was caused by a listed peril.
Where it trips people up
DP-1 landlord forms are still named-peril and often missing common modern perils like theft. Always look at the form number on the dec page — DP-1 vs DP-3 is a major coverage difference.
The technical version
An insurance form providing coverage only for specifically enumerated causes of loss; the burden of proof rests on the insured to demonstrate that the loss arose from a covered peril.