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.
Insurance Encyclopedia
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.
Frequent pain
In a workers’ compensation case, pain approximately 75% of the time.
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.