MLchartDataset catalogue

Flat

Term · Insurance and risk management · MLC-T-INS-001540

A type of policy cancellation where the contract is voided from its inception date, as if it had never been in force. This action results in a full refund of any premium paid by the policyholder, with no premium earned by the insurer. A flat cancellation is processed when, for instance, the initial payment is not received, the policy was issued in error, or the insured secures alternative coverage before the effective date.

Table 1. Record
IdentifierMLC-T-INS-001540
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001540",
  "term": "Flat",
  "field": "Insurance and risk management",
  "definition": "A type of policy cancellation where the contract is voided from its inception date, as if it had never been in force. This action results in a full refund of any premium paid by the policyholder, with no premium earned by the insurer. A flat cancellation is processed when, for instance, the initial payment is not received, the policy was issued in error, or the insured secures alternative coverage before the effective date.",
  "url": "https://mlchart.com/terminology/insurance/flat/"
}

Record 1,420 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.