Aleatory Contract | Insurance Glossary Definition

Home » What Is An Aleatory Contract » Aleatory Contract | Insurance Glossary Definition

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Home Term Insurance Definitions aleatory contract On This Page aleatory contract

An aleatory contract is an agreement concerned with an uncertain event that provides for unequal transfer of value between the parties.

Additional Information

Insurance policies are aleatory contracts because an insured can pay premiums for many years without sustaining a covered loss. Conversely, insureds sometimes pay relatively small premiums for a short period and then receive coverage for a substantial loss.

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  • Category Focus
    • Claims, Case Law, Legal
    • Commercial Auto
    • Commercial Liability
    • Commercial Property
    • COVID-19
    • Personal Lines and Small Business
    • Risk Financing and Captives
    • Risk Management
    • Specialty Lines
    • Workers Compensation
    • White Papers
    • Free Articles
    • Videos
  • Industry Focus
    • Agribusiness Industry
    • Construction Industry
    • Energy Industry
    • Transportation Industry
    • Insurance Industry
  • Conferences
    • Agribusiness Conference
    • Construction Risk Conference
    • Energy Risk and Insurance Conference
    • Transportation Risk Conference
    • Sessions On Demand
  • Insurance Education
    • Certifications
    • Agribusiness and Farm Insurance Specialist
    • Construction Risk and Insurance Specialist
    • Energy Risk and Insurance Specialist
    • Management Liability Insurance Specialist
    • Manufacturing Risk and Insurance Specialist
    • Transportation Risk and Insurance Professional
    • Continuing Education
    • Insurance Industry Training
    • IRMI Webinars
  • Subscribe
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    • How-To Videos
  • About IRMI
    • Our Mission
    • Our Story
    • Our Team
    • Our Brands
    • Press Releases
    • Careers
    • Contact Us
    • Advertise
  • Glossary
    • Terms
    • Acronyms
  • Membership
    • IRMI Webinars
    • Newsletters
    • White Papers
    • Join for Free

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