Insurance company domiciled in another state or, in some states, an insurance company domiciled in a foreign country.
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A carrier domiciled in another country.
Tag: USA
foreign company
Insurance company organized or incorporated doing business under the laws of some other state of the United States, such as a company organized under the laws of New York doing business in Missouri. This corporation is a foreign company in Missouri. Technically, an insurance company chartered in a foreign country is called an alien company , whereas a company chartered in another state than that in which it is doing business is referred to as a foreign company .
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Term used in the U.S.A. to describe an Insurance Company established in one U.S. State when it is operating in another.
foreign corporation
Insurance company incorporated under the laws of another state other than the one where it does business. A bank chartered in Pennsylvania but owning a loan production office in California is a foreign corporation in California. Also called out-of-state corporation . See also foreign company .
foreign insurer
An insurance company housed in a different state than the one the insured’s policy is written in.
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From the U.S. perspective, an insurer domiciled in the United States but outside the state in which the insurance is to be written. In effect, it is a domestic insurer doing business outside of the state in which it is domiciled.
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Insurer domiciled in a country other than the one where the insured exposure is located. Contrast with “Alien Insurer.”
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MEDICAL,USA,REFERENCE See: foreign company .
foreign medical graduate (FMG)
Physician who graduated from a medical school outside of the United States.
Foreseeability
Capability of an insured individual to know beforehand or have possible anticipation that injury would be the result of a specific act or an absent act.
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UK: The test of reasonable foreseeability’ is applied in determining liability in the tort of negligence. The case known as the Wagon Mound (No. 1) made the rule that damage following negligence will not be too remote if it is reasonably foreseeable. Thus foreseeability not directness is the test but see egg shell skull rule.
Forfeiture
Unvested amount of money remaining in a retirement plan when a participant is terminated and the employee withdraws the amount vested. When this type of situation occurs, a forfeiture must either be used to reduce the plan sponsor’s future plan contributions or be reallocated to the other participants.
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Loss of a right in consequence of a crime or breach of engagement. Thus, rights under an insurance policy may be forfeited if the claim is fraudulent.
form locator (FL)
Field positions 1 through 81 on the Uniform Bill (UB-04) paper or electronic claim form for specific billing and coding information. Every FL accepts a certain number of characters, alphabetic or numeric and symbols or spaces. For some insurance carriers, FLs may be required, preferred, or optional, depending on the data.
Formal referral
Authorization request (telephone, fax, or completed form) required by the managed care organization contract to determine medical necessity and grant permission before services being rendered or procedures performed.
Format
1. Organization or appearance of data. 2. Under the Health Insurance Portability and Accountability Act (HIPAA), this relates to those data elements that provide or control the enveloping or hierarchical structure, or assist in identifying data content of a transaction.