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Glossary


A manuscript form or policy is an insurance policy form that is custom designed for a particular insured.

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A margin clause is a nonstandard commercial property insurance provision stating that the most the insured can collect for a loss at a given location is a specified percentage of the values reported for that location on the insured's statement of values.

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Marina operators legal liability coverage insures the liability exposures associated with the operation of a marina including those related to the care, custody, and control (CCC) of watercraft.

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Marine insurance is a line of insurance applicable to the conveyance of cargo over land or water. It can cover loss of or damage to ships, cargo, terminals, pipelines, ports, oil rigs and platforms, and similar property.

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A marine survey is a watercraft inspection and appraisal, which insurers typically require for boats over 10 years old or extremely valuable watercraft (e.g., over $35,000).

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A marketplace platform is an interface that brings together buyers and sellers of a certain good or service.

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Market conduct is the way an insurer operates in relation to its customers and suppliers.

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A market conduct exam is an investigation by insurance regulators to determine whether an insurer has followed laws relating to the distribution of products to consumers and settlement of claims.

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Market cycles are marketwide fluctuations in the prevailing level of insurance and reinsurance premiums.

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Market risk is the exposure to uncertainty due to changes in rate or market price of an invested asset (e.g., interest rates, equity values).

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