With Average

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With Average (W.A.)

Marine cargo insurance coverage providing for partial loss or damage to goods, either with or without a deductible. Also called With particular average.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

With 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-average plans include deductibles, and sometimes they do not. Depending on the amount of the deductible, the insurer of a with-average plan will be liable for losses if some of the products break in transit. For example, if one is transporting $10,000 worth of goods over sea and $2,000 in goods are washed overboard, the with-average policy covers the owner of the goods for $2,000 (assuming no deductible). This contrasts with a free of particular average plan, in which the insurer is generally only responsible for catastrophic losses.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in classic literature ?
Wilson, ex-Governor; W.A. MacCorkle, ex-Governor; John Q.
I accepted the invitation, and at the appointed day was met at the railway station at Charleston by a committee headed by ex-Governor W.A. MacCorkle, and composed of men of both races.
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The 21-year-old Pakistani blacksmith, W.A., was said to have premeditatedly stabbed his countryman, M.H., to death and tried to mow down his other countryman, S.R., a security guard, with his vehicle in November 2012.
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In these cases, structural mezzanines by W.A. Schmidt, Inc.
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The Dubai Court of First Instance convicted the two defendants, an Egyptian inspector, A.F., 37, and an Emirati chief inspector, W.A., 27, of abusing their office and demanding a bribe.