What Does General Average Loss Mean?

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What does General Average Loss mean? Read on to discover the definition & meaning of the term General Average Loss - to help you better understand the language used in insurance policies.

General Average Loss

General Average Loss

Ocean marine term used to indicate a partial loss resulting from a sacrifice of cargo to save remaining property (jettison); each party shares in the loss in proportion to his total interest in the property being transported.

We hope the you have a better understanding of the meaning of General Average Loss.

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