Free of particular average
From Supply Chain Management Encyclopedia
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| - | '''Free of particular average (FPA)''' means a marine insurance term meaning that the assurer will not allow payment for partial loss or damage to cargo shipments except in certain circumstances, such as stranding, sinking, collision or fire <ref> </ref>. The word “average,” in insurance terms, refers to the extent of coverage. | + | '''Free of particular average (FPA)''' means a marine insurance term meaning that the assurer will not allow payment for partial loss or damage to cargo shipments except in certain circumstances, such as stranding, sinking, collision or fire <ref> </ref>. The word “average,” in insurance terms, refers to the extent of coverage<ref> Glossary of Shipping Terms, Maritime Administration, Washington, DC, 2008 | www.marad.dot.gov/documents/Glossary_final.pdf</ref>. |
See also [[particular average insurance]], [[marine insurance]] | See also [[particular average insurance]], [[marine insurance]] | ||
Revision as of 00:04, 25 July 2011
Free of particular average (FPA) means a marine insurance term meaning that the assurer will not allow payment for partial loss or damage to cargo shipments except in certain circumstances, such as stranding, sinking, collision or fire [1]. The word “average,” in insurance terms, refers to the extent of coverage[2].
See also particular average insurance, marine insurance
