general average

American  

noun

1. 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 (particular average ). G.A.

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general average British  

noun

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

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Etymology

Origin of general average

First recorded in 1690–1700

Example Sentences

Classic cases involved jettisoning cargo — if the crew had to lighten a ship’s load to avoid sinking and tossed some but not all cargo, under general average everyone chipped in for the loss.

From New York Times • Mar. 30, 2024

Michael Shifter, a senior fellow at the Inter-American Dialogue, a Washington think tank, said the 24% abstention is high in historical terms since the general average for non-participation has been 10%.

From Seattle Times • Mar. 27, 2023

Only two made a general average of more than 75%.

From Time Magazine Archive

Even the fruits which labor plucked�a general, average rise of some 13� an hour�turned bitter as they were being swallowed.

From Time Magazine Archive

These places were of course relatively large and important and do not represent the general average.

From The Aboriginal Population of the San Joaquin Valley, California by Cook, Sherburne F.