A Forum constituted by IRDA for an effective dialogue between service providers (Hospitals) the insurance companies, Third Party Administrators and the consumers in general to enable the evolution of a regulatory structure which would better meet the needs of Heal Insurance Sector in India.
Insurance Encyclopedia
Forum of Insurance Lawyers (FOIL)
Provides a forum for the exchange of information between lawyers acting predominately or exclusively for insurance clients (except legal expenses insurers) either practising within firms of solicitors, as barristers, or as in-house lawyers for insurers or self-insurers. FOIL is also an active lobbying body on matters concerning insurance litigation.
Forum rei
The court of the country in which the thing or person, the subject of the action, is situated. See FORUM SHOPPING.
Forum shopping
The selection by a claimant of a country where he prefers his action to be heard. If a choice exists the claimant ‘shops around’ to select the country where he is most likely to win or secure the highest award. Many UK liability policies exclude US jurisdiction.
Forward contract
A privately arranged contract that specifies the price for a transaction in the future. It differs from ‘futures’ in that it is not standardised and is not traded on organised exchanges. Each party bears the other’s credit risk.
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An agreement for insurance to come into force at some future date.
Forward Exchange Rate Cover
Credit insurance against the exporter’s risk of loss from an unfavorable movement in the rate of exchange.
Forward-looking statement safeharbor
Refers to a provision in the PSLRA that protects corporations and their directors and officers when making written or oral forward-looking statements. Pursuant to this safeharbor, no liability exists with respect to a forward-looking statement that, when made, is identified as forward-looking and is accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in the statement. Alternatively, the statute also provides that a person making a written or oral forward-looking statement will not be liable for that statement unless a plaintiff proves that the person made the statement with actual knowledge that it was false or misleading. The safeharbors do not apply to various types of forward-looking statements, including such statements in GAAP financial statements, in an IPO registration statement, in connection with a tender offer or a partnership, in certain change-in-control disclosure statements, in a going private transaction, or by a non-SEC reporting company.
Forwarder / Freight Forwarder / Foreign Freight Forwarder
An independent business that dispatches shipments for exporters for a fee. The firm may ship by land, air or sea or it may specialize. Usually it handles all the services connected with an export shipment; preparation of documents, booking cargo space, warehouse, pier delivery and export clearance. The firm may also handle banking and insurance services on behalf of a client
Forwarding Charges
Expenses of carriage of cargo to destination from a place of refuge or port of forced discharge.
Forwarding charges clause
Institute Cargo Clause 12. Where, as a result of an insured peril, the transit is terminated short of the destination, the underwriter will reimburse the insured for any extra charges incurred in unloading, storing and forwarding the goods to their destination. The clause does not apply to general average or salvage. Forwarding charges due to insolvency or financial default are excluded.