general average

noun

Insurance. any damage or loss to a ship or its cargo voluntarily sustained, as freight jettisoned in a storm, by all parties to a voyage (distinguished from particular average). Abbreviation: G.A.

Origin of general average

First recorded in 1690–1700

Words nearby general average

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British Dictionary definitions for general average

general average

noun

insurance loss or damage to a ship or its cargo that is shared among the shipowners and all the cargo owners Abbreviation: GA Compare particular average