Car Insurance Jargon
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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.
Fault claim - A fault claim is one where your insurance
company is unable to recover all of the costs from another
party, such as a break in, or an accident which was caused
by you.
Financial adviser - There are two types of financial
adviser, both of which recommend products and services that
help individuals plan their finances: Independent Financial
Advisers or IFAs work on behalf of the client and can choose
from any product or service, while tied agents work on behalf
of their company to recommend their products only.
Fully comprehensive - For motor insurance, a policy
that covers damage to the owner's vehicle as well as to
others'.
