Manual stretching or applying pressure or traction to realign a broken bone; also referred to as a reduction .
Insurance Encyclopedia
Fragile property exclusion
Breakage of fragile property is commonly excluded from ‘all risks’ policies but some cover can be bought back by the insured. The exclusion generally applies to ‘ordinary breakage’ and not breakage due to fire and theft.
Fragmentation
See: unbundling .
Fragmentation risk/fragmentation policy (impact damage cover)
The risk of damage to surrounding property by physical impact resulting from flying from any part of any insured item of plant. The risk is insurable as a named peril under engineering policies and can be combined with an inspection service.
Frail elderly provision
See: home and community care for the functionally disabled .
Frame
A type of construction. A frame building is primarily made with wood frames and joists.
Franchise
1. Relieves insurer of each and every loss that does not exceed a specified amount or percentage. If the limit is exceeded the loss is paid in full. The term, is distinguished from an excess, the amount of which continues to be deducted for each and every loss above the specified amount. 2. The amount by which a Lloyd’s syndicate is permitted to exceed its syndicate allocated capacity. 3. See LLOYD’S FRANCHISE.
Franchise Clause or Deductible
A clause or provision in a Policy where the Insurer pays all losses over a given level i.e., franchise, but no losses below that level i.e., falling within the franchise. Contrast with excess.
Franchise deductible
A deductible within a policy that states claims under a certain amount or certain percentage of the policy are not covered. Claims that cost more than those amounts are entirely covered.
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Deductible in which the insurer has no liability if the loss is under a certain amount, but once this amount is exceeded, the entire loss is paid in full.
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Type of deductible which originated with marine Insurance under which no claim is payable unless if exceeds a stated amount or a stated percentage of the amount of Insurance. For any loss which exceeds that amount or percentage, the entire amount of the loss is paid.
Franchise Insurance
A form of insurance in which individual policies are issued to the employees of a common employer or the members of an association and the employer or association agrees to collect the premiums for the insurer.
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MEDICAL,USA Accident and health insurance contracts sold to individuals of a common employer in which the employer collects and remits the premiums to the insurer. Usually the premiums are deducted from the payroll.
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Uniform individual health insurance protection provided to groups of persons, usually in the same occupation or profession.