FCAS:
See Fellow of the Casualty Actuarial Society:

FC&S Bulletins: Fire, Casualty, and Surety Bulletins:
A service, published by the National Underwriters Company, explaining coverages, forms, underwriting, and rating procedures for the various Property, Casualty, and Surety lines of insurance:

FCII:
Fellow of the Chartered Insurance Institute, whose designation is gained by the completion of examinations and other requisites:

FDIC:
See Federal Deposit Insurance Corporation:

FICA: Federal Insurance Contributions Act:
A law imposing a payroll tax to assist in funding Social Security benefits:

FOB:
See Free On Board:

FSA:
See Fellow of the Society of Actuaries:

FSLIC:
See Federal Savings and Loan Insurance Corporation:

Face Amount:
The amount of insurance provided by the terms of an insurance contract, usually found on the face of the policy: In a Life Insurance policy, the death benefit:

Fair Credit Reporting Act:
Public Law 91-508 requires that an applicant be advised if a consumer report may be requested and be told the scope of the possible investigation: Should his request for insurance be declined because of information contained in that report, the applicant must be given the name and address of the reporting agency:

Federal Deposit Insurance Corporation (FDIC):
An agency of the federal government which insures bank deposits up to a stated maximum:

Federal Estate Tax:
The federal tax which is imposed on the deceased's estate which includes the total assets comprising a person's estate at death:

Federal Insurance Administration:
A government office, part of HUD, which oversees the handling of FAIR plans, Federal Crime Insurance plans, and the Flood program:

Federal Insurance Contributions Act (FICA):
See FICA:

Federal Savings and Loan Insurance Corporation:
A United States government instrumentality that insures share accounts in savings and loans and similar institutions up to a maximum per account:

Fictitious Groups:
Groups formed primarily for the purpose of buying insurance: Under the law such groups may not be underwritten:

Fiduciary:
A person holding the funds or property of another in a position of trust: An example would be the executor of an estate:

Field:
(1) See Field Force: (2) A type or line of insurance as "in the Life Insurance field:" (3) An area or territory covered by an agent, agency, or insurer:

Field Force:
The agents and supervisory personnel of insurers who operate away from the home office in the branch offices and agencies of the company:

Field Representative:
See Special Agent:

Financial Statement:
The disclosure of the financial results of a firm's operations: It involves the balance sheet, profit and loss statement, and associated information:

Fine Print:
A reference to imaginary small type in a policy contract supposedly containing exclusions, reductions, exemptions, and limitations of coverage: Most state laws include specifications for the minimum type size that can be used in a policy, and they also provide that exclusions cannot be printed in type smaller than that used to print the benefits:

Fire Mark:
An insignia, generally metal, once placed on buildings insured by the insurer represented by the mark: Since the insurers had their own fire brigades, they had to check the mark on a burning building to determine whether or not they should extinguish the fire:

First Loss Insurance:
(1) Popularly used, an insurance policy which is called upon to pay a loss before others covering the same risk: (2) A contract written in such an amount as to cover only an insured's expected loss during the policy period with no other insurance in existence:

"First" Named Insured:
The first named insured appearing on a commercial policy: The latest forms permit the insurer to satisfy contractual duties by giving notice to the "first" named insured rather than requiring notice to all named insureds:

First Party Insurance:
Insurance which applies to coverage for the insured's own property or person: Contrast with Third Party Insurance:

First Year:
The term used to refer to various matters during the first year a policy is in force, such as first year premiums and first year claims:

First Year Commission:
The commission paid on the first year's premium:

Flat:
Without interest or service charges: See also Flat Cancellation:

Flat Cancellation:
A policy which is cancelled upon its effective date: Usually under a flat cancellation no premium charge is made:

Flat Commission:
A standard scale commission paid to an agent regardless of the type of exposure or the type of policy: Contrast with Graded Commission:

Flesch Test:
A method for determining the degree of ease or difficulty for reading material: This method counts not only the number of words in a sentence, but also the number of syllables in each word: It has come into popular use because of recent state laws requiring that contracts of insurance be easily understandable by someone at the eighth grade level:

Foreign Insurer:
An insurer domiciled in a state of the United States other than the one in which the insured's insurance is written:

Form:
(1) An insurance document which, when attached to a policy, makes it complete: For example, a Standard Fire policy would have to have a Business Interruption form attached to it to make up a Business Interruption policy: (2) Any rider or endorsement, such as a Deductible Endorsement "form:"

Fortuitous Event:
See Accident: