Average Clauses (Particular Average Clauses)
Average Clauses (Particular Average Clauses) :
The perils listed in the insurance policy establish the basic perils that are covered by a named peril policy, and a total loss of an entire vessel or an entire cargo shipment due to any one of these perils is covered in full. The various Average Clauses determine when PARTIAL LOSSES due to a named peril in the policy are covered. The Average Clauses fall into two categories: FPA (Free of Particular Average) and WA (With Average): FPA - AC (Free of Particular Average - American Conditions) Limits recovery of partial losses to those directly CAUSED BY the vessel stranding, sinking, burning, or being in collision with another vessel.
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