1 2 3 4 5 7 8 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

FSOC

The Financial Stability Oversight Council, established under the Dodd-Frank Act, provides comprehensive monitoring of the stability of the United States’ financial system. The Council is charged with identifying risks to the financial stability of the United States; promoting market discipline; and responding to emerging risks to the stability of the United States’ financial system. The Council consists of 10 voting members and 5 nonvoting members and brings together the expertise of federal financial regulators, state regulators, and an independent insurance expert appointed by the President. The independent insurance expert is a voting member, appointed by the President and confirmed by the Senate for a six-year term. The Director of FIO and a state insurance commissioner selected by the state insurance commissioners (through the NAIC) serve as non-voting members.

FSSA

Financial System Stability Assessment, a written document prepared at the conclusion of each country’s FSAP by the International Monetary Fund.

Full buyout

A concept introduced in the Pensions Bill of 2004 that will be legislated in 2005. It will oblige solvent employers who wind up defined benefit pension schemes to meet their in pension promises in full by buying out members’ benefits.

full capitation (FUL)

1. Managed care plan is paid for providing services to enrollees solely through capitation. 2. Financial arrangement in which a plan or primary care case manager (PCCM) is paid for providing services to enrollees of a managed care plan through a combination of capitation and fee-for-service reimbursements.

Full coverage

A misleading term no longer in use by the industry, generally used to mean that an insured has physical damage, liability, towing, and rental on their personal auto policy.
****
Any form of Insurance which provides for payment without deduction, of all losses occasioned by hazards covered. Insurance against the full amount of any loss up to the amount of Insurance, without deductions.
****
Insurance that covers the insured’s claim completely.