Glossary

Fair Access to Insurance Requirements Plans are state-run insurance plans that make property insurance available to those who cannot obtain it in the voluntary market.

The Fair Chance Act To Compete for Jobs Act of 2019 is legislation designed to ban federal agencies and federal contractors from asking applicants for employment to disclose their criminal histories before the federal agency makes the applicant a job offer.

The Fair Credit Reporting Act of 1970 is a federal act aiming to promote the fairness and accuracy of information contained in consumer reports, such as a credit report.

Fair Labor Standards Act of 1938 is a law that established a national hourly minimum wage and promulgated eligibility rules for overtime pay.

Fair rental value coverage is provided as part of additional living expense (ALE) under a homeowners policy and as Coverage D under a dwelling policy.

Fair use is a legal concept, based on section 107 of the Copyright Act, that allows for limited use of copyrighted work for certain purposes (e.g., criticism, commentary, news, or education).

Faithful performance coverage is a crime insurance coverage that insures against loss of money, securities, or other property caused by the failure of an individual to faithfully execute their duties as required by law or by company bylaws.

False arrest is the act of detaining a person unlawfully on groundless accusations that the person has committed a crime.

False pretense, trick, and device refers to an exclusion in the physical damage coverage portion of a garage coverage form eliminating coverage for losses the insured suffers due to the fraudulent acts of others.

The Families First Coronavirus Response Act is a law passed in March 2020 that requires employers with 500 or fewer employees to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to the COVID-19 pandemic.