Exclusion in an ocean marine Insurance Policy on a ship or cargo which excuses (frees) the Insurer from liability for loss resulting from capture or seizure of the ship or its cargo by pirates or “assailing thieves.”
Insurance Encyclopedia
Free-standing emergency medical service center
See: emergency center .
Free-standing surgical center
Health care facility for handling surgical procedures that do not need overnight hospital care. Also called ambulatory care facility, ambulatory surgical center, clinic, day surgery , outpatient facility, primary care center , or urgent care center .
Free-standing urgent care center
See: emergency center .
Freedom of choice
1. In the Medicaid program, the principle that a state ensures that Medicaid beneficiaries are free to obtain medical care from any provider. 2. In private health plans, refers to ability of members or subscribers to go to whomever they want for medical services without being referred.
Freedom of establishment
The right of an insurer located in one European Economic Area (EEA) member state to underwrite a risk located in another EEA member state by establishing a permanent presence in that EEA member state. (Please see the ‘Definition of risk location’ section on Crystal for clarification of the correct location for a risk.) This permanent presence can be in the form of a local branch, agency or subsidiary. At Lloyd’s, a permanent presence in another EEA member state is created by having local coverholders with full binding authority agreements and a local Lloyd’s General Representative. (A full binding authority agreement is one where the coverholder may enter into contracts of insurance without first consulting the syndicate.) Freedom of establishment business is that underwritten under a full binding authority where the coverholder and the risk are located in the same EEA member state outside the UK.
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UK: The right to set up a branch, subsidiary office or similar establishment to transact business in a foreign country.
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The right to set up an office or establishment in a country other than that in which one has one’s principal place of business.
Freedom of Information Act (FOIA)
Federal law that any person has a right, enforceable in court, of access of federal agency records, except to the extent that such records, or portions thereof, are protected from disclosure by one of nine exemptions or by one of three special law enforcement record exclusions. Requests must be submitted in writing. FOIA applies only to records of the executive branch of the federal government, not to those of Congress or the federal courts, and does not apply to state governments, local governments, or private groups.
Freedom of Services
The right to provide services in a country without necessarily having an office or establishment in that country.
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The right to provide business services on a cross-border basis within the European Economic Area (EEA). For insurance contracts, this means that the contract can be underwritten in an EEA member state that is different from the member state where the risk is located. (Please see the ‘Definition of risk location’ section on Crystal for clarification of the correct location of a risk.) Freedom of services business consists of open market business written from the UK (with or without the involvement of a local intermediary), business written under a full binding authority where the coverholder is located in a different member state from where the risk is located and business that is written under a prior submit binding authority agreement. (A prior submit binding authority agreement is one where the coverholder does not have authority to enter into contracts of insurance without first consulting the syndicate that granted the binding authority).
Freedom of services business
The right to transact business across national frontiers with those domiciled in another country without having an establishment in that country.
Freelance
To work for several clients as an independent, self-employed individual.