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general average

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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 (distinguished from particular average). Abbreviation: G.A.
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Origin of general average

First recorded in 1690–1700
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

British Dictionary definitions for general average

general average

noun
  1. insurance loss or damage to a ship or its cargo that is shared among the shipowners and all the cargo ownersAbbreviation: GA Compare particular average
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Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012