Insurance, Particular-Average 2
Insurance, Particular-Average 2 : A Marine insurance term to refer to partial loss on an individual shipment from one of the perils insured against, regardless of the balance of the cargo (in this way it differs from general-average insurance). Particular-average insurance can usually be obtained, but the loss must be in excess of a certain percentage of the insured value of the shipment, usually 3 to 5 percent, before a claim will be allowed by the company
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