Same-day delivery for local parcels (such as documents) has long been available by local courier. Rail and air transport made same-day delivery feasible over longer distances; for example, packages shipped in the early morning can be delivered (at relatively high cost) anywhere in the mainland United States.
A multi-peril policy is an insurance policy that covers a number of different causes of loss, rather than just one. These types of policies provide comprehensive coverage and are common in property insurance. Many insurance policies only offer coverage for one type of peril. For example, earthquake insurance may only cover earthquakes.
Dictionary of Insurance Terms for: Special Multiperil Insurance (SMP) Special Multiperil Insurance (SMP) coverage usually provided for large businesses in four areas: Section I (Property)-The building(s) and contents are covered against either any peril ( all risks basis) or only perils listed in Section I. It is to the advantage of the business to have coverage written on an all risks basis.