Glossary

A merger objection lawsuit is one filed by dissatisfied shareholders of a company that is soon to be or has recently been acquired by another company.

The #MeToo movement actively and publicly opposes sexual harassment and sexual assault.

Mexico coverage refers to (1) the coverage provided under certain nonstandard automobile policies issued by US insurers for operation of an insured motor vehicle within Mexico, usually limited to a stated number of miles from the US border.

A micro-captive is a small captive operating with annual written premium that qualifies it, in the United States, to be taxed under Internal Revenue Code § 831(b) or 501(c)(15), which provides that a captive qualifying to be taxed as a US insurance company and meeting all requirements of § 831(b) or 501(c)(15) may pay tax only on investment income.

Midi-tail is the informal term for an extended reporting period (ERP) longer than 60 days but not unlimited.

The Migrant and Seasonal Agricultural Worker Protection Act of 1983 (MSAWPA) is a federal Act that establishes a private right of action for actual or statutory damages (as well as criminal and administrative sanctions) against employers and contractors of migrant or seasonal agricultural workers who violate the MSAWPA's housing and motor vehicle safety requirements, motor vehicle liability insurance requirements, and job information disclosure requirements.

The military service exclusion is an exclusion found in some life and health insurance policies excluding payment of benefits for death or injuries caused to an insured while in military service during a time of war.

The Miller Act is a federal statute (40 USC §§ 270a–270d–1) that requires contractors to furnish payment and performance bonds in conjunction with the construction, alteration, or repair of public buildings.

The Million Dollar Round Table (MDRT) is an association of life insurance agents who qualify by selling $1 million or more on a face value basis in a calendar year.

Mill construction is a strong, durable, slow-burning type of joisted masonry construction characterized by heavy floors and thick wooden columns or beams.