the pumping of water and chemicals underground at high pressure to shatter rock formations and release gas the practice generates a considerable amount of waste liquid, which is Often disposed of by injecting it into deep rock formations where it can lubricate faults. the disposal of This liquid has been blamed for causing earthquakes to the extent that the United States Geological Service tracks earthquakes and studies those quakes thought to be created by fracking.
Insurance Encyclopedia
Fractional Premium
A proportionate amount of the regular premium usually used when a change in premium paying date is desired and the portion of the premium year between the old date and the new must be settled.
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A premium divided equally and paid at regular intervals, for example, quarterly.
Fractional premiums
Insurance premiums that are paid in installments (fractions of the annual premium) such as semiannually, quarterly, or monthly.
Fracture manipulation
Manual stretching or applying pressure or traction to realign a broken bone; also referred to as a reduction .
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.