Free of particular average- English conditions FPAEC

Term · Insurance and risk management · MLC-T-INS-001592

A marine insurance clause that specifies the conditions under which partial losses (particular average) are covered, based on English legal precedents and practices. Under FPAEC, the insurer is not liable for particular average unless the vessel is stranded, sunk, or burned, or if the loss is caused by fire, explosion, or contact with any external substance. This clause is generally less restrictive than American conditions, as it does not require a collision.

Table 1. Record
Identifier	MLC-T-INS-001592
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-001592",
  "term": "Free of particular average- English conditions FPAEC",
  "field": "Insurance and risk management",
  "definition": "A marine insurance clause that specifies the conditions under which partial losses (particular average) are covered, based on English legal precedents and practices. Under FPAEC, the insurer is not liable for particular average unless the vessel is stranded, sunk, or burned, or if the loss is caused by fire, explosion, or contact with any external substance. This clause is generally less restrictive than American conditions, as it does not require a collision.",
  "url": "https://mlchart.com/terminology/insurance/free-of-particular-average-english-conditions-fpaec/"
}

Record 1,493 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.