Marine Cargo Insurance – FPA (Free of Particular Average)
A provision in a marine cargo insurance policy that no claim shall be paid for damage to goods in the course of a voyage unless a loss is sustained that totals or exceeds a certain percentage of the value as specified in the policy. The object of such a provision is the avoidance of petty claims.
Related Links
Free of Particular Average (FPA)
Free of Particular Average (FPA) – Insurance Glossary Definition – IRMI.com
What is free of particular average (FPA)?
What is Free of particular average (FPA)? Definition and meaning
What Are The Three Important Types Of Cargo Insurance? – Answered!
Cargo Insurance: Definition, Importance, Types, Procedure (Explained)