A form of insurance covering merchandise held for sale by a retailer that has been used as collateral for a loan. The lending institution, in effect, is insuring its collateral, which is the merchandise “on the floor” of the retailer.
Insurance Encyclopedia
Flotsam
Maritime term meaning wreckage floating on the sea (Merchant Shipping Act 1894).
Flour ‘all risks’ clauses
Marine insurance clause for the insurance of flour as cargo. Cover is in respect of ‘all risks’ whatsoever but excludes damage by weevils, inherent vice, etc.
Flow-Through Cost
Net cost of Insurance (or other product) available from an Agent or broker (or other intermediary) who adds no markup to cover the intermediary’s own costs or profit.