Home > Glossary

With Particular Average

With Particular Average

Definition

In ocean marine insurance, an insurance policy that covers a partial loss sustained by a specified cargo or vessel. Ocean marine policies do not necessarily cover partial loss (referred to as "average" loss); those that are covered must be the result of a covered peril. Such cargo losses are usually subject to separate particular average coverage provisions.

Related Terms

Related Products

User ID: Subscriber Status:Free