average adjuster
Noun: - A specialist who calculates and apportions marine insurance losses: An "average adjuster" is a professional who assesses and determines the distribution of financial losses arising from maritime incidents, such as ship damage or cargo loss, among the parties involved (e.g., shipowners, insurers, cargo owners) according to the principles of "average" (a term for partial loss or damage in marine insurance).
- (The expert assessed the losses from the maritime accident.)
- (The specialist apportioned the costs fairly among those affected.)
- (The adjuster ensures proper distribution of liability.)
"To act as an average adjuster": To perform the role of assessing and allocating maritime losses.
- He has been acting as an average adjuster for the shipping company for over a decade. (He works as the professional handling marine loss apportionment.)
"Average adjuster's report": A formal document detailing the calculation and distribution of losses.
- The average adjuster's report was submitted to all parties for review. (The document outlines the financial settlement.)
Average (n): In marine insurance, a term for partial loss or damage to a ship or cargo.
- The ship suffered a general average loss, requiring an average adjuster to apportion the cost. (A partial loss shared among all parties.)
Adjuster (n): A person who calculates or settles claims (in insurance generally).
- The insurance adjuster handled the car accident claim, while the average adjuster specialized in maritime cases. (A broader term for claim specialists.)
Adjustment (n): The process of calculating and apportioning losses.
- The average adjustment was complex due to multiple cargo owners. (The calculation and distribution process.)
Marine loss adjuster: A professional who assesses and allocates losses in maritime insurance.
- The marine loss adjuster surveyed the damaged cargo. (Similar role to an average adjuster.)
Average stater: An older term for an average adjuster.
- The average stater determined the contribution of each party. (Historical synonym.)
"General average": A principle in maritime law where all parties share the cost of a loss incurred to save the ship and cargo.
- The average adjuster applied the general average rule to distribute the salvage expenses. (The loss was shared proportionally.)
"Particular average": A loss borne solely by the owner of the damaged property.
- The average adjuster distinguished between general and particular average in the report. (Different types of marine loss.)