Insurance Glossary

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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.


Contact Us

Al Ahlia Insurance
        P.O. Box 5282, 4th floor
        Chamber of Commerce Building
        Manama, Bahrain

Marketing@alahlia.com

0973 17 225860

0973 17 224870