average

(a) a condition in general insurance policies that deals with situations where the sum insured, on which premium is based, is less that the full value of the insured property. In such instances, the insured must bear a proportion of the loss in relation to the proportion of the sum insured to the full value (b) in Marine insurance, this term refers to physical loss or damage caused by a marine peril (IG)

In other languages:

• medja [MT] - (a) kondizzjoni f'poloz ta' assigurazzjoni ġenerali li għandha x'taqsam ma' sitwazzjonijiet meta s-somma assigurata, li fuqha hu bbażat il-primjum, hija inqas mill-valur sħiħ tal-propjetà assigurata. F´każijiet bħal dawn l-assigurat għandu jġorr proporzjon tat-telfa skond il-proporzjon tas-somma assigurata mal-valur sħiħ (b) fl-assigurazzjoni marittima dan it-terminu jirreferi għal telf jew ħsara kkaġunata minn periklu tal-baħar (IG)
• media [IT]