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Fiduciary Liability: The liability placed on trustees, employers, fiduciaries and professional administrators with respect to errors and omissions in the administration of employee benefit programs
  
Fine Arts Coverage: Property insurance for works of art
  
Fire Department Service Charge Coverage: Coverage in a property insurance policy for charges incurred by the insured from a fire department for their services in fighting a fire
  
Fire Legal Liability Coverage: Liability coverage for the insured's legal liability for fire damage to premises rented by the insured
  
Fire Wall: A wall designed to prevent the spread of fire from one part of a building to another
  
Firewall: A computer that protects a company's private network from outside internet users
  
Flat Cancellation: The full cancellation of a policy as of the effective date of coverage which requires the return of paid premium in full
  
Flood Coverage: Coverage for damage to property caused by flood
  
Flood Exclusion: A provision in most all property insurance policies eliminating coverage for damage by flood and possibly other types of water damage, such as seepage and sewer backup
  
Follow Form: An umbrella policy provision that follows the underlying policy for coverages and policy provisions
  
Forgery or Alteration Coverage: Covers loss due to the dishonesty of writing, signing or altering of checks and bank drafts
  
Fortuitous Event: An event that is subject to chance without the implication of suddenness
  
Frequency: The number of times that a loss will occur within any given period of time
  
Full Coverage: Any form of insurance that provides payment in full of all losses caused by the perils insured against without applying a deductible or depreciation
  
Garage Liability Insurance: Insurance coverage for the legal liability of automobile dealers, garages, repair shops and service stations for bodily injury and property damage arising out of their business operations
  
Garagekeepers Coverage: Provides coverage to owners of storage garages, parking lots and body and repair shops for their liability of damage to automobiles left in their custody for safekeeping or repair
  
General Aggregate Limit: The maximum amount of insurance payable during the policy period for losses (other than those arising from the products - completed operations hazards as covered under the standard commercial general liability policy)
  
General Liability Insurance: Insurance protecting businesses from most liability exposures other than automobile and professional liability
  
Glass Insurance: A property insurance policy covering breakage of building glass regardless of cause
  
Governing Classification: In Workers' Compensation Insurance, the classification that best describes the workers' compensation exposure of an employer's business
  
Gross Negligence: Willful and wanton misconduct
  
Gross Vehicle Weight (GVW): The weight specified by a manufacturer for the maximum total loaded weight of a single vehicle
  
Hired Automobile: An automobile whose exclusive use has been temporarily given to another for a monetary sum or other consideration. The business auto definition of 'hired autos,' however, includes autos borrowed except those borrowed from employees or partners
  
Hold Harmless Agreement: A contractual agreement that requires one contracting party to assume certain legal liabilities of the other party
  
Host Liquor Liability: Liability coverage for hosts of business or social functions arising out of the serving or distribution of alcoholic beverages by a party not engaged in this activity as a business enterprise
  
Improvements and Betterments: Additions or changes made by a lessee at his own expense to property that may not legally be removed. Usually covered under the tenants property coverage
  
Incurred Losses: The amount of paid claims and loss reserves within a particular period of time, usually a policy year. Customarily computed as losses incurred during the period, plus outstanding losses at the end of the period, less outstanding losses at the beginning of the period
  
Independent Adjuster: A claims adjuster who provides adjustment services to insurance companies but is not employed by them
  
Independent Contractor: An individual or company who has agreed, in writing, with another party to perform a job or function on behalf of that party
  
Inflation Guard Provision: A provision that increases the limit of insurance by a specified percentage over a specified period of time to offset inflation costs
  
Insurance to Value: Insurance written in an amount equal to the value of the property or which meets coinsurance requirements
  
Insurer: An insurance company that provides insurance coverage and other insurance-related services
  
Joint Venture: A business relationship when two or more persons join their labor or property for a business undertaking and share profits
  
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