Malicious
Mischief -
A
companion product available to GEICO policyholders that
provides travel club services such as: Trip Routing Services,
Discounts on Hotel and Car Rentals, No-Fee Traveler's Checks,
and more.
Maps and More -
A
companion product available to GEICO policyholders that
provides travel club services such as: Trip Routing Services,
Discounts on Hotel and Car Rentals, No-Fee Traveler's Checks,
and more.
Material Damage -
All
damage losses covered by the policy. This includes the
following: property damage (PD), comprehensive damage (COMP),
collision damage (COLL), Fire/Theft Combined Additional
Coverage (FTCA), rental reimbursement (RR), or uninsured
motorist property damage (UM).
Mechanical Breakdown Insurance -
Covers repairs to all mechanical parts of the car, protecting
you from expensive repair bills.
Medical Payments -
Pays
medical expenses (and in some cases lost wages) of the driver
and passengers in your car.
Misrepresentation -
To
make written or verbal statements that are untrue or
misleading. Misrepresentation may be made either by a person
seeking insurance coverage when describing the risk, or on the
part of an insurer or agent regarding the contract policy
terms.
Motor Vehicle Report (MVR) -
A
report from the agency that issues your driver's license,
listing accidents and violations that appear on your driving
record. This report is used to verify information provided by
insurance applicants and policyholders.
Motorcycle Insurance -
GEICO's
Cycle-Gard insurance provides protection from losses resulting
from owning and operating motorcycles.
Motorcycle Safety Foundation (MSF)
-
A national, nonprofit organization. Some
applicants who complete MSF courses qualify for discounts on
GEICO's Cycle-Gard motorcycle insurance.
Multi-car discount -
Available
to policyholders who insure more than one vehicle at the same
location.
Manual, Compensation - where the rates shown
apply to each $100 of the payroll of the insured, $100 being
the "unit."
Manuscript
Policy - A policy written to include specific
coverages or conditions not provided in a standard policy. It
is often prepared by a large brokerage house for a large
account, and it must conform to state laws. In the event of a
dispute over policy language, the contract of adhesion
doctrine is modified.
Market
Risk - A risk experienced by those who invest in
securities which is the risk of possible loss of investment
since there are no guarantees associated with such
investments.
Market
Value - The price for which something would sell,
especially the value of certain types of assets, such as
stocks and bonds. It is based on what they would sell for
under current market conditions. For example, common stock
market value would be the price of the stock as of a specified
date. See also Actual Cash Value.
Minimum Premium - The smallest amount of
premium for which an insurer will issue coverage under a given
policy.
Mixed Insurer
(or Company) - An insurance company in which the
ownership is split among stockholders and policy owners. The
term can also be used to indicate an insurer issuing both Life
and Health Insurance policies. It is often erroneously used to
describe an insurer offering both participating (dividend
paying) and nonparticipating plans.
Mode of Premium Payment - The
method of premium payment (mode) elected by the policy owner.
Modes generally available are monthly, quarterly,
semiannually, and annually.
Monoline
Policy - Any insurance coverage written as a single
line policy. Contrast with Multiple Line or Package policy.
Mutual Fund - An investment company that raises
money by selling its own stock to the public. It then invests
the proceeds in other securities. and the value of its own
stock fluctuates with its experience with the securities in
its portfolio. Mutual funds are of two types: (1) Open-end, in
which capitalization is not fixed and more shares may be sold
at any time. (2) Closed-end, in which capitalization is fixed
and only the number of shares originally authorized may be
sold.
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