CAIB-3 Exam Dumps | DEFINE: PARTICULAR AVERAGE (1 mark)

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Canadian Accredited Insurance Broker (CAIB 3) Exam
IBABC.CAIB-3.v2026-10-22.q20
Question 8

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Question 8/20

DEFINE: PARTICULAR AVERAGE (1 mark)

Correct Answer:

See the answer in Explanation below.
Explanation:
Particular average is a partial loss to a specific marine shipment caused by an insured peril, other than a General Average loss.
Reference: IBAC CAIB 3 Student Resource Guide (2013), Chapter 4 - Marine Insurance, Particular Average, reference p. 4-16.
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