“A minority of input produces the majority of results.”
Partial Disability
When injured party is unable to perform part of usual takes of his job or is only able to perform labour of a less remunerative class than he performed before the injury.
Partial Loss
A loss under an insurance policy which does not either completely destroy or render worthless the insured property, or which does not exhaust the insurance limits applying thereto.
Partial Loss
In marine insurance, an injury to the vessel or insured property resulting in a loss that is not actually nor constructively total.
Participation
Whereby the insured participates in each covered loss incurred on a percentage basis, e.g., coinsurance, percentage deductible, etc.’
Particular Average
In marine insurance, a partial loss to a specific shipment, other than a general average.
Partnership
Contract between two or more people to enter into a lawful business, with it being understood that there shall be a proportional sharing of the profits and losses between them.