Glossary

A mineral lease is a contract between a mineral owner (the lessor) and a company or working interest owner (the lessee) in which the lessor grants the lessee the right to explore, drill, and produce oil, gas, and other minerals for a specified period of time.

Mine subsidence coverage is for loss to property due to the sinking of a man-made mine.

Mini-tail is an informal name for an extended reporting period (ERP) with a very short (i.e., 60 days) duration.

A mini-trial is a short version of a trial in which each side presents an abbreviated version of its case before a judge or a mediator for the purpose of settlement.

Minimum and deposit premium is a premium that is fully earned by the insurer at the inception of the policy and is nonrefundable if the policy is canceled.

A minimum deposit policy is a cash value life insurance policy having a first-year loan value available for borrowing immediately upon payment of the first-year premium.

The minimum premium is the least amount of premium to be charged for providing a particular insurance coverage.

Ministerial exception refers to a legal doctrine applying to religious institutions that provides an exemption from federal employment discrimination laws for practices that would otherwise be considered discriminatory.

A minor's compromise is an approval by the court that a claim settled on behalf of a minor is fair and that the monies provided on behalf of the minor are deposited in an appropriate account.

Miscellaneous medical facilities are entities such as imaging centers, ambulatory care centers, hospices, dialysis clinics, homecare facilities, medical spas, and a variety of other facilities offering specialized medical services.