See: lloyd’s members means.
***
The minimum level of wealth that a member must demonstrate he, she or it has in order to underwrite at Lloyd’s. The means of all members must be held in approved form and must be maintained in value so long as the member has actual or potential outstanding underwriting liabilities.
Insurance Encyclopedia
Means Test
An evaluation of the assets and/or income of a person for the purpose of determining his eligibility for social security benefits or for underwriting membership of Lloyd’s.
Measure of Indemnity
The basis for calculation of the sum that an insured is entitled to recover in respect of a claim under an insurance that is a contract of indemnity.
Measurement Ton
The measurement ton (also known as the cargo ton or freight ton) is a space measurement, usually 40 cubic feet or one cubic meter. The cargo is assessed a certain rate for every 40 cubic feet or 1 cubic meter it occupies.
Mechanical breakdown exclusion
Motor insurers exclude mechanical and electrical breakdown from the own damage’ section of a comprehensive policy. If the breakdown, e.g. brake failure, causes an own damage’ accident, the damage will be covered but not the repair of the brake. However, if the breakdown is the result of failure to observe the reasonable care condition the insured may get no cover except for the compulsory insurance elements of his policy and then subject to the insurer’s right to recover the amount paid.
Mechanical Breakdown Insurance
1. Covers the cost of breakdown of household appliances or motor vehicles. 2. See AVIATION MECHANICAL BREAKDOWN INSURANCE.
Mechanized Sailing Vessel
It is a vessel registered with government authority as having auxiliary engines.
Med-surg
Abbreviation for medical-surgical. See medical-surgical nursing and medical-surgical procedures .
Medblogging
See: medical blogging .
MEDCIN®
Reference medical terminology classification system created by the National Committee on Vital Health and Statistics that is used to code text data after they are captured by an electronic health record (EHR) system. It assists in the standardization of clinical point of care terminology used in EHRs.