How is a sacrifice of cargo to save remaining property termed in Ocean Marine insurance?

In Ocean Marine insurance, the term used for the sacrifice of cargo to save the remaining property is described as "general average." This concept arises when a ship faces potential loss or damage and the crew decides to intentionally discard part of the cargo to ensure the safety of the vessel and the rest of its cargo. Under the principle of general average, all parties involved, including those who benefited from the cargo sacrifice, share the loss proportionately. This principle exists to promote safety in maritime operations, encouraging vessel owners and operators to take necessary risks to protect the overall integrity of the voyage.

The other terms relate to different types of losses; for example, a "total loss" refers to the complete destruction of the property or an event where the cost of recovery exceeds its value. On the other hand, "partial loss" indicates a situation where some, but not all, of the property was damaged or lost. Lastly, "compromise loss" is not a recognized term within the context of marine insurance, making it an inappropriate choice. Thus, the correct terminology for this specific action of sacrificing cargo for the greater good is general average.