Frequently Asked Questions

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Frequently Asked Questions2022-05-24T18:33:03+00:00
Particular Average2022-05-24T18:31:48+00:00

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.

Free of Particular Average (FPA)2022-05-24T18:31:48+00:00

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

With Average (WA)2022-05-24T18:31:48+00:00

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.