AMIM Practice Questions - Associate In Marine Insurance Management (AMIM) Exam

In marine insurance, the term 'particular average' refers to:

A voluntary sacrifice of property to save the entire venture A partial loss that is borne solely by the owner of the damaged property A total loss of the insured property An average premium rate used across a marine book

Correct Answer:

A partial loss that is borne solely by the owner of the damaged property

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