What does Particular Average mean? Read on to discover the definition & meaning of the term Particular Average - to help you better understand the language used in insurance policies.
A particular average is a marine insurance provision that holds a shipper responsible for losses that are incurred to the ship or to the ship's cargo when the ship is exposed to a danger. This is opposed to the cargo owner being held responsible and being forced to pay for the losses.
We hope the you have a better understanding of the meaning of Particular Average.