In insurance terms, which describes the term Particular Average?
• Difference between general average and particular average in marine insurance • Who shares the loss in general average vs who bears it in particular average • Whether the loss/damage concerns one interest or all interests in the venture
• Ask yourself: is this type of loss spread among all parties in the maritime venture, or is it attached to a single cargo owner or interest? • Which option sounds more like general average (shared sacrifice for the common safety) rather than particular average? • Does the term refer to a navigational calculation (distance, time, speed) or an insurance/claims concept?
• Eliminate any answer that clearly describes general average (shared charges among all parties). • Check whether the option talks about only one party’s cargo or interest versus all parties together. • Confirm the choice is about loss or damage in an insurance sense, not about steaming distance or charter party performance.
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