Mid Term Rewrite
A mid-term rewrite in insurance refers to replacing an existing insurance policy with a new one before the current policy’s expiration date.
Insurance Glossary
Glossary/Encyclopedia of insurance terms. In addition to the brief description of insurance terms, we have also provided detailed explanation of each term. By selecting ‘More Details’ in each term, you can view the detailed explanation of the term with examples.
Monline Insurance
Monoline insurance refers to an insurance company or policy that focuses on a single line of insurance business, rather than offering a diversified range of insurance products.
Motor Carriers Form (USA)
The Motor Carriers Form is a type of commercial auto insurance form used in the United States to provide coverage for businesses that transport property or passengers.
Motor Vehicle Report (MVR -USA)
In the USA, a Motor Vehicle Report (MVR) is a detailed record of an individual’s driving history.
Multi-Car Discount
A multi-car discount is a common type of discount offered by auto insurance companies to customers who insure two or more vehicles on the same policy.
Multi-Policy Discount
A discount on insurance premiums that is offered to customers who purchase more than one type of insurance policy from the same company.
Multiline Insurance
Multiline insurance refers to an insurance company or policy that offers a variety of different types of insurance coverage.
Mutual Aid Insurance Platforms (China)
In China, Mutual Aid Insurance Platforms (also called Mutual Assistance Plans or 互助保险/互助计划) refer to peer-to-peer risk-sharing schemes where large groups of members voluntarily contribute small amounts of money to collectively pay for another member’s claim—usually for serious illness.
Mutual Insurance Companies
Mutual insurance companies are insurance companies that are owned by their policyholders.
NAIC (USA)
The NAIC (National Association of Insurance Commissioners) is a U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territories.
Named Insured
The named insured is the person or entity specifically identified and listed by name on the declarations page of an insurance policy.
Named Perils
Named perils refers to a type of insurance policy that provides coverage only for the specific risks or events that are explicitly listed or “named” in the policy documents.