With average 3 percent (WA3%)

{
  "id": "MLC-T-INS-003541",
  "term": "With average 3 percent (WA3%)",
  "field": "Insurance and risk management",
  "definition": "A marine cargo insurance clause specifying that partial losses (particular average) are covered only if the damage exceeds 3% of the insured value of the cargo. If the loss is less than this percentage, the insurer is not liable. This clause acts as a deductible, limiting the insurer's exposure to minor damages.",
  "url": "https://mlchart.com/terminology/insurance/with-average-3-percent-wa3-percent/"
}