Facultative reinsurance - A type of reinsurance in which the reinsurer can accept or reject any risk presented by an insurance company seeking reinsurance.
Fiduciary - A person who holds something in trust for another.
F.O.R. Free on Rail - This is the same as F.O.B. contract.
Fire - A combustion accompanied by a flame or glow, which escapes its normal limits to cause damage.
Fixtures - Generally, something tangible that is fixed or attached, as to a building, so that it becomes an appendage or structural part.
Flood - A general and temporary condition of partial or complete inundation of dry land caused by the overflow of the natural boundaries of a body of water or the unusual and rapid accumulation of surface water runoff. Some insurance policies that include flood as a covered peril only insure against damage caused by overflow of the natural boundaries of a body of water, but other policies also may insure against surface water losses.
Fraud - The intentional perversion of the truth in order to mislead someone into parting with something of value.