Explain The Losses In Ocean Marine Insurance?

Losses in ocean marine insurance
The losses are generally of two types:-
1- Total loss
It is further divided into
a) Actual total loss
The actual total ocean marine loss occurs when the ship carrying the goods sinks in the sea, catches the f ire and is burnt to ashes the pirates take the ship away and  remains missing, then it is said to be actual total loss.
b) Constructive total loss
A constructive total loss is said to have taken place when the actual loss appears to be unavoidable and the expenditure incurred on the repair of the ship or the recovery of goods exceed their total value.

2- Partial loss
It is technically known as Average. It is further divided into:
a) General average
If the ship suffers the loss or damage at sea and loss is of a general nature which has been undertaken to preserve the ship or the cargo, then the loss is to be borne by all the underwriters in the vessel.
b) Particular average
Particular average is the loss of the particular interest which may be in the ship alone or cargo alone is incidentally caused by a peril insured against. In particular average the loss is partial and is not voluntary.