What does the "all-risks clause" cover in an open cargo insurance policy?

The "all-risks clause" in an open cargo insurance policy provides broad coverage for a wide range of potential losses or damages to insured goods during transit. This clause is designed to offer protection against all commercial risks, except for those specifically excluded in the policy terms. This means it encompasses various types of threats, including but not limited to natural disasters, theft, accidents, and other unforeseen events that could cause damage to the goods.

In contrast, the other options present more limited scopes of coverage that do not reflect the comprehensive nature of the all-risks clause. Coverage that applies only to natural disasters would miss many other critical risks. Similarly, limiting coverage solely to theft disregards other potential hazards that could affect the cargo. Furthermore, specifying particular goods listed in a policy would contradict the intent of an open cargo policy, which is meant to cover a wide array of commodities rather than just a selected few. Therefore, the all-risks clause's extensive coverage aligns with option B, making it the most accurate choice.