FIDELITY GUARANTEE:
Covers loss sustained through fraudulent or dishonest acts committed by employees.
FILM / FILM PRODUCERS GUARANTEE:
A range of policies are available to protect producers and investors against loss involving assets, liabilities, people, production costs and profit.
FINANCIAL PRODUCT:
Has the same meaning as stipulated in the Financial Services Reform Act 2001
FINANCIAL SERVICES:
Providing advice or dealing in financial products.
FINANCIAL SERVICES GUIDE (FSG):
A financial services guide issued pursuant to the requirements as set out in the FSR.
FINANCIAL SERVICES REFORM (FSR):
The financial services reform programme implemented by the Financial Services Reform Act 2001 together with regulations promulgated pursuant thereto and Policy papers issued by ASIC.
FINE ARTS:
Covers loss of or damage to fine art and curios whilst on display, exhibition or in transit.
FIRE AND EXTRANEOUS PERILS:
This composite policy can include a selection or all of the following perils: Fire, Lightning, Explosion, Aircraft, Earthquake, Storm & Tempest, Rainwater, Water Damage, Flood, Malicious Damage, Riots & Strikes, Impact by Vehicles or Animals.
FIRE SERVICES LEVIES:
Amounts payable by insurance companies to meet the operating costs of Fire Brigade authorities as determined by the various State Governments are passed onto policyholders as premium loadings known as Fire Service Levies.
FORGED SHARE TRANSFER:
This is a legal liability policy. If company shares or stocks are transferred from one name to another, due to the production of forged documents, both the registrar and the issuing company may be jointly/severally liable for losses incurred by the real owner.
FRANCHISE:
A policy condition whereby no claim is admissible unless the loss exceeds a specified amount, at which point the Insurer pays the full amount of the claim.
FREE ON BOARD (F.O.B.):
Relates to the cost and charges from the supplier’s store, including the cost of the goods, cases, packing, rail, delivery charges, dock charges, land transit, insurance, customs and agents’ charges at the port of shipment. In other words, the total cost of the goods to be delivered to the vessel, but not sea freight or marine insurance.