InsurancePunitive damages Term Insurance Rider Key person insurance Risk manager Completed operations coverage Positive act
General average clause
In the world of finance, we often come across terms that may seem confusing or unfamiliar. One such term is the "general average clause" in ocean marine insurance. This clause requires parties other than the insured to share in the losses suffered by the insured due to the voluntary and necessary sacrifice of freight caused by shipping perils. It is important to understand this term as it can have a significant impact on the insured's financial protection. Let's delve deeper into what this clause entails.
Related terms
Understand the meaning and definition of Punitive damages in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Term Insurance Rider in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Key person insurance in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Risk manager in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Completed operations coverage in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Positive act in the context of stock market, trading, and investments.
MORE
Explore other categories
10 Cr+DOWNLOADS
Enjoy Zero Brokerage On Stock Investments
Get the link to download the App
