Average Irrespective of Percentage Law and Legal Definition
The term average irrespective of percentage implies that partial losses will be paid regardless of any franchise or percentage. This is the broadest form of coverage in marine insurance under which any partial or total loss is paid in full, without regard to any average. According to this method, all partial losses due to perils covered in the basic Marine Perils Clause are fully recoverable regardless of percentage.
Legal Definition list
- Average Hourly Earnings [Education]
- Average Fixed Cost [AFC]
- Average Daily Balance Method
- Average Daily Attendance
- Average Daily Assets
- Average Irrespective of Percentage
- Average Lamp Efficacy
- Average Manufacturer Price (AMP) (Health Care)
- Average Midrib Length
- Average Monthly Civilian Income
- Average Monthly Number of Unemployed Persons
