Frequently Asked Questions

In ocean marine insurance, 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.

An ocean marine policy provision that eliminates all coverage for any partial loss of cargo.

An ocean marine policy provision that covers partial loss of below deck cargo on the same basis as a total loss—that is, for loss by the same perils and regardless of what percentage of the total insured value is damaged or lost.