Which of the following is a synonym for named perils?

Prepare for the Georgia State GEICO Licensing Test with interactive quizzes featuring flashcards and multiple-choice questions. Equip yourself with hints and explanations to ensure you're ready for your exam!

A synonym for named perils is "specified peril." This term is used in the context of insurance to refer to a policy that covers only those specific risks that are explicitly listed in the policy documents. For example, a named peril policy will outline the precise dangers—such as fire, theft, or vandalism—that the policyholder is insured against. This specificity helps both the insurer and the insured know exactly what is covered, making it clear which types of damages will be compensated.

In contrast, other terms such as "comprehensive peril" and "open peril" describe broader coverage types. A comprehensive policy generally offers protection against a wide range of risks, not limited to the ones specifically named. Open peril coverage is similar; it typically covers all risks unless specifically excluded. "Unspecified peril" would not accurately describe the named peril concept, as it suggests a lack of defined risks being covered. Thus, "specified peril" aligns directly with the meaning of named perils, providing clarity and precision in insurance language.

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