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Participation

1. Total number of insured individuals covered under a group insurance plan versus the total number of individuals who are eligible to have coverage. This is expressed in a percent. 2. A physician participates in an insurance plan when agreeing to accept assignment for all services he or she will give to members of the plan. Also see participating provider (par) and participation program.
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There is said to be participation when a number of insurers each accept a portion of an insurance.

Particular average

A loss that falls on the particular property insured, as opposed to a general average, which is a loss for the account of all interests. See also Average and General average.
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A partial loss of a ship or cargo which is caused by an insured peril and which is not a general average loss. The term partial loss may be used instead.
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UK: A partial loss of the vessel or cargo, including total loss part of the shipment, caused by an insured peril and which is not subject to a general average loss; it falls on ‘particular’ property as opposed to general average which is loss relating to all interests. The term does not include particular charges. The term has been replaced in the Institute Clauses by partial loss, but the original term is used in marine insurance circles.

Particular average adjustment

Calculation of reduction in value of cargo insured under valued policies following insured damage. The gross sound and damaged values are compared to find the percentage reduction in value to be applied to the agreed value to give the amount of the claim. Where percentages cannot be agreed the damaged goods are sold. The difference between the sound value and the sale price gives the relevant percentage. Total loss of part of the cargo is based on the proportion of the insurable value that the part lost bears to the insurable value as a whole.

Particular Average Loss (Partial Loss)

It occurs: Where part of the cargo is totally lost, e.g., non-delivery, theft, loss during loading/unloading:When the goods arrive in a damaged condition. The deciding factor for payment of partial loss is the “cause” of such loss. If such loss cause is covered by the Policy it would be payable, otherwise not.Loss, Particular Charges : An expense incurred by the insured in order to assess. prevent or minimize a loss for which underwriters are or would be liable excludes general average and salvage charges, but includes sue ad labor survey fees, forced sale charge, etc. Examples are also reconditioning charges at destination to avoid a greater partial damage claim.