A partial loss is known in the marine insurance industry as a particular average.

Name: A partial loss is known in the marine insurance industry as a particular average.
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Question

Quizplus · Accepted Answer

This statement is true. A particular average refers to a partial loss or damage to a ship or cargo that is borne by the owner of the affected portion or cargo. The term is commonly used in marine insurance.

A Partial Loss Is Known in the Marine Insurance Industry