Average

Average in maritime law means loss, divided into general average and particular average. General average is a sacrifice or extraordinary expenditure intentionally and reasonably made to save the common adventure, shared rateably by ship, cargo, and freight under the York-Antwerp Rules. Particular average is accidental partial loss that lies where it falls, borne by the owner of the property damaged and recoverable only under its own hull or cargo policy. The Marine Insurance Act 1906 codifies both at sections 64 to 66. A general average act under Rule A of the York-Antwerp Rules requires that the act be intentional, reasonable, extraordinary, and made in time of peril.