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Mail Coverage Form
A part of the Commercial Inland Marine Coverage part of the Commercial Package policy. It provides all risks coverage for valuable contents of mail.

Major Medical Insurance
A type of health insurance intended to provide protection against catastrophic losses. Some forms are designed to complement or supplement basic hospital/surgical insurance provide both basic and catastrophic illness coverage.

Manual
A book giving rates classifications and underwriting rules for certain types of insurance or bonds.

Marine Insurance
A form of insurance primarily designed to cover property in transport over land or sea.

Material Misrepresentation
The policyholder / applicant makes a false statement of any material (important) fact on his/her application. For instance, the policyholder provides false information regarding the location where the vehicle is garaged.

Medical Payments
Will pay reasonable expenses incurred for necessary medical and /or funeral services because of bodily injury caused by accident and sustained by you or any other person while occupying a covered automobile.

Medicare Supplement Insurance
A type of Health insurance designed to cover medical costs not payable under the Federal Medicare program.

Minimum Premium
The lowest premium for which a policy may be issued.

Miscellaneous Insurance
Includes insurance against loss from damage done directly or indirectly by lightning, windstorm, tornado, earthquake or insurance under an open policy indemnifying the producer of any motion picture, television, theatrical, sport, or similar production, event, or exhibition against loss by reason of the interruption, postponement, or cancellation of such production, event, or exhibition due to death, accidental injury, or sickness preventing performers, directors, or other principals from commencing or continuing their respective performance or duties; and any insurance not included in any other classes and which is a proper subject of insurance (California Insurance Code, Section 120).

Miscellaneous Type Vehicle Endorsement
An endorsement which may be added to the Persona: Auto policy to cover motorcycles, motor homes, golf carts, mopeds and other recreational vehicles.

Misquote
An incorrect estimate of the insurance premium.

Misrepresentation
Statement of something that is known to be untrue.

Moral Hazard
A condition of morals or habits that increases the probability of a loss from a peril insured against.

Mortgagee
One who has a lender's interest in real property.

Mortgagee Clause
A provision in a policy protecting the interest of the mortgagee.

Mortgage Insurance
Life insurance that pays the balance of a mortgage if the mortgagor (insured) dies.

Mortgage Insurance Policy
In life and health insurance, a policy covering a mortgagor with benefits intended to pay off the balance due on a morrtgage upon the insured's death, or to meet the payments due on a mortgage in case of the insured's death or disability.

Mortgagee Rights
Rights granted to a mortgagee under a property contract issued to a mortgagor by virtue of the mortgagee's financial interest in the property.

Mortgagor
One who has secured a loan from a mortgagee usually the property owner and thus the insured under a property policy.

Motor Truck Cargo Policy
Inland Marine transportation insurance which protects the carrier against its liability for damage to domestic shipments in its custody.

Multiple Line Insurance
The combination of two separate lines of insurance into a single policy. Often referred to as package insurance.

Mutual Insurance Company
Companies with no capital stock, and owned by policyholders.  The earnings of the company–over and above the payments of the losses, operating expenses and reserves–are the property of the policyholders.  There are two types of mutual insurance companies.  A nonassessable mutual charges a fixed premium and the policyholders cannot be assessed further.  Legal reserves and surplus are maintained to provide payment of all claims.  Assessable mutuals are companies that charge an initial fixed premium and, if that isn't sufficient, might assess policyholders to meet losses in excess of the premiums that have been charged.

MVR
Motor Vehicle Report – a listing of the tickets (violations) and/or accidents for an individual driver over a period of time, i.e., three years, five years, etc .