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Glossary


A mandated reporter is a professional who is legally required to report potential child abuse to authorities.

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A mandatory arbitration provision is a provision in an insurance policy that requires an insured to submit disputes with the insurer (typically as respects the existence of coverage) to arbitration rather than to the traditional judicial system.

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A mandatory securities valuation reserve refers to a reserve required of life insurers by state laws to offset declines in valuations of securities held as admitted assets.

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The manifestation theory is a coverage trigger theory in latent injury cases that holds that injury occurs when the injury becomes known, manifests itself to the injured party, is diagnosed by a physician, etc.

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The manual premium is a premium calculated by applying an insured employer's payroll to the premium rates in an insurer's premium manual.

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Manual rates are rates promulgated by a rating bureau, such as Insurance Services Office, Inc. (ISO) (commercial property, general liability, commercial auto), and the National Council on Compensation Insurance (NCCI) (workers compensation), before application of any credits or deviations. This is a somewhat obsolete term.

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Manufacturers and contractors insurance is now obsolete, but prior to the 1986 revision of the commercial general liability (CGL) policy, this form of insurance was used as a means of providing premises and operations coverage to manufacturers and certain types of contractors, primarily construction and installation contractors.

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Manufacturers output policy (MOP) is a broad all risks policy that provides a combination of commercial property and commercial inland marine coverages manufacturers and many other businesses need.

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Manufacturers penalty insurance covers an insured manufacturer against financial responsibility imposed under a contract for delay in completion of a product.

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Manuscript certificate of insurance describes a nonstandard document for providing evidence of insurance coverages required by the certificate holder in a contract with the insured.

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