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With Particular Average |
Also found in: Acronyms | 0.01 sec. |
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With Particular Average (WPA) See: With Average With Particular Average A provision in maritime transport insurance stating that the insurer is responsible for partial losses on the value of the covered products. Sometimes with particular average plans include a deductible and sometimes they do not. Depending on the amount of the deductible, the insurer of a WPA plan will be liable for losses if some of the products break in transit. This contrasts with a free of particular average plan, in which the insurer is generally only responsible for catastrophic losses. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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