Home > Glossary

Flat

Definition

Without interest, service, additional charges, or adjustments. For example, when a premium is quoted on a "flat" basis, no additional premiums (or refunds) will be due under the policy, regardless of loss experience or changes in exposure during the term of coverage.

Beacon Hill sidebar
Personal Lines CE sidebar
AgriCon-Banner-(728x90) (002)

Navigation

Social Media

User ID: Subscriber Status:Free