- Facultative Reinsurance Fakultatif Reasürans
- A form of reinsurance in which each risk is offered to and individually accepted or declined by the reinsurer. Unlike treaty reinsurance, the reinsurer has no obligation to accept and may negotiate terms risk by risk. Facultative placements are typically used for large, unusual or capacity-exceeding risks that fall outside existing treaty arrangements.
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- First Loss Clause İlk Kayıp Klozu
- A policy arrangement allowing the insured to declare and insure only the maximum probable loss from a single event rather than the full total value. Used to manage partial loss risk on large stocks or inventories; the insured accepts a coinsurance obligation for the gap.
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- Forgery and Alteration Coverage Sahtecilik ve Belge Tahrifi Kapsam
- Coverage for financial loss caused by the forgery or fraudulent alteration of cheques, bills of exchange, promissory notes or other financial instruments. A standard component of BBB and commercial crime policies; critical in finance and retail sectors handling high document volumes.
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- Franchise (Insurance) Franchise (Sigorta)
- A threshold in an insurance policy above which the insurer is liable for the full amount of the loss, including the franchise amount itself. If the loss is below the franchise threshold, the insurer pays nothing. Unlike a deductible (where the insured always bears the deductible amount), under a franchise the insurer pays everything once the threshold is crossed. Common in marine cargo and motor insurance.
- Freight Forwarder / Logistics Operator Liability Lojistik Operatörü Sorumluluk Sigortası
- Insurance covering a freight forwarder's or logistics operator's legal liability for financial loss caused to customers by errors, omissions or negligence in organising transportation. Also covers liability under FIATA standard trading conditions.
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