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F. F1 F2 F3 F4 F5 F6 F7 F8 F9 Fa Fe Fg Fi Fl Fo Fp Fr Fs Ft Fu Fy
Fra Fre Frg Fri Fro Fru

Frequency Rate

Number of occurrences of a given event, expressed in relation to a base unit of measure. For example, accidents per employee-hour of exposure, or traffic fatalities per 100,000,000 miles of vehicle travel.

frequency-adjusted conversion factor (FACF)

Dollar amount for one base unit that is obtained when converting a provider’s fee schedule that is not based on the resource-based relative value scale (RBRVS) to one that is based on it, using current fees and the number of times the service is provided (frequency). By using a FACF, it is possible to develop an RBRVS fee schedule that produces the same amount of income that was generated under the non-RBRVS fee schedule.

Freshwater damage

Cargo damaged by fresh water without the operation of a maritime peril. This risk, together with other extraneous risks such as damage by other cargo, hooks, oils and sweat may added to the policy when governed by Institute Cargo Clause (B) or (C). Clause (A), ‘all risks, is already wide enough to embrace the risk. The freshwater loss/damage must be fortuitous, happening by reason of some external cause.

Friendly Societies

Otherwise known as ‘collecting societies’ they are like industrial life companies but owned and operated for the benefit of its members. They are authorised to transact industrial life assurance as defined in the Industrial Assurance Act 1923. Friendly societies started as local organisations, distributing benefits to sick and bereaved members. They have to be registered under the Friendly Societies Act 1974 and are subject to the supervision of the FSA.

Friendly society

(1) an unincorporated association set up under the provisions of the Friendly Societies Act 1974, or similar earlier legislation, and carrying on certain types of insurance business allowed by that Act; (2) an incorporated society set up under the provisions of the Friendly Societies Act 1992 and allowed to carry on a wider range of insurance and other financial activities than is permitted under the 1974 and earlier legislation.
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A mutual society established for the relief or maintenance of its members or their relatives during sickness or othr infirmity or in old age or widowhood or for life assurance and certain other purposes.