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.