Malicious Mischief ...
Intentional destruction of property belonging to another person.
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Malpractice Insurance ...
Professional liability insurance for medical professionals and facilities.
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Manual ...
The book which contains rates, classifications and guidelines for rating policies.
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Market Value ...
The dollar amount for which property could be sold prior to a loss.
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Masonry Noncombustible ...
Masonry walls and a one-hour fire rating on the balance of construction materials.
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Material Damage ...
Comprehensive, collision, fire and theft damage to the insured vehicle or boat itself. (See also, Physical Damage.)
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Material Fact ...
Information that would have prompted the Insurance Company to underwrite a policy differently or decline coverage if it had been known.
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Medical Payments Automobile Insurance ...
First party coverage, in non-no-fault states, which pays for medical expenses and funeral services resulting from an automobile accident, regardless of the liability of the Insured.
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Merit Rating ...
A merit rating that bases calculation of the policy premium on previous loss experience. (See also, Experience Rating.)
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Misrepresentation ...
A written or verbal falsification of a material fact on documents an Insurance Company relies upon to write a policy contract.
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Mobile Equipment Endorsement ...
Endorsement on Commercial Auto policy that allows mobile equipment to be considered an auto for coverage purposes.
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Modified Fire Resistive ...
All masonry construction with a greater than one hour, but less than two hour fire rating.
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Money Orders and Counterfeit Paper Currency Coverage Form ...
A Commercial Crime form to cover against losses arising out of the acceptance of counterfeit paper currency.
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Mono-Line Company ...
An Insurance Company that writes only one line of insurance.
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Mono-Line Policy ...
An insurance policy that provides only one type of insurance coverage.
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Moral Hazard ...
A hazard that exists in a situation when property is insured for significantly more than the property is worth, which may entice the Insured to contribute to a loss in an effort to collect on the insurance policy.
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Morale Hazard ...
A hazard that exists in a situation where the Insured would have a tendency to contribute to a loss by irresponsible or careless actions.
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Mortgage Condition ...
A condition found in Property insurance policies that specifies the rights and responsibilities of the property mortgagee. (See also, Loss Payable Condition.)
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Mortgagee Rights ...
Rights granted to a mortgagee under a Property insurance policy based on their insurable interest in the insured property.
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Multi-Peril Policy ...
A package policy that provides coverage against several separate perils.
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Multi-Line Company ...
An Insurance Company that writes a variety of the traditional lines of insurance known as Property and Casualty insurance.
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Multi-Line Policy ...
A package policy that combines coverages from both the Property and Casualty insurance lines.
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Mutual Insurance Company ...
An Insurance Company that operates to insure its policyholders and profit its policyholder owners by passing the savings of a lower operating overhead along to them. (Compare, Stock Insurance Company.)
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Mysterious Disappearance ...
The vanishing of property without explanation.
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