marine cargo insurance that does not cover partial losses or partial damage unless caused by the vessel being sunk, stranded, burned, on fire, or in a collision. Bloomberg Financial Dictionary
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free of particular average ˌfree of parˌticular ˈaverage abbreviation FPA adjective [not before a noun]
INSURANCE TRANSPORT a condition stating that insurance is only against total (= when the thing insured is totally lost or destroyed), not partial loss (= when the thing insured is not totally lost or destroyed). Free of particular average is one of the institute
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free of particular average UK US adjective (ABBREVIATION FPA) INSURANCE, COMMERCE, TRANSPORT
► used to describe an insurance agreement in which the insurance company does not have to pay for goods that are partly lost or partly destroyed on a ship unless the ship sinks, hits something, is damaged by fire, etc.
Financial and business terms. 2012.