MLchartDataset catalogue

Flat cancellation

Term · Insurance and risk management · MLC-T-INS-001541

The termination of an insurance policy as of its effective date, with no premium earned by the insurer. This means the policy is treated as if it was never in force, and any premium paid is fully refunded to the policyholder. Flat cancellations often occur when a policy is issued but then immediately replaced by another or deemed unnecessary.

Table 1. Record
IdentifierMLC-T-INS-001541
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001541",
  "term": "Flat cancellation",
  "field": "Insurance and risk management",
  "definition": "The termination of an insurance policy as of its effective date, with no premium earned by the insurer. This means the policy is treated as if it was never in force, and any premium paid is fully refunded to the policyholder. Flat cancellations often occur when a policy is issued but then immediately replaced by another or deemed unnecessary.",
  "url": "https://mlchart.com/terminology/insurance/flat-cancellation/"
}

Record 1,405 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.