in Finance by (36.1k points)

Question: Select the expanded form of FPA as used in insurance

Options:

  1.  Freight Payable Assured
  2.  Free of Particular Average
  3.  Fire Perils Added
  4.  Fixed Peripherals Added

Please log in or register to answer this question.

1 Answer

0 votes
by (82.0k points)
selected by
 
Best answer

2. Free of Particular Average

The expanded form of FPA is 'Free of Particular Average' as used in insurance.


More info:

Free of Particular Average is an contract/agreement clause that removes the insurer's liability for partial losses.

The FPA clauses are mainly found in marine insurance policies.

It does not include liability for compensation for losses to the cargo or to the hull other than those caused by stranding, sinking, burning or collision.

Related questions

...