duration of risk

duration of risk
The extent of time within which the losses covered by a policy of insurance must occur in order for the insurer to be liable. 29 Am J Rev ed Ins § 317. The period of time between the effective date of the policy and the termination of the risk by expiration of the period of coverage, cancellation of the policy, or breach of condition.

Ballentine's law dictionary. . 1998.

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