Construction that meets particular specifications or standards that are higher than average. Buildings such as warehouses that meet these standards qualify for reduced rates on fire insurance
Tag: RAW
Million Dollar Round Table (Life Insurance)
An association for life insurance agents who have qualified for membership by selling a minimum of $1 million of coverage. Other criteria include that the agent be a member of the National Association of Life Underwriters.
Mine subsidence coverage
An endorsement to a homeowners insurance policy, available in some states, for losses to a home caused by the land under a house sinking into a mine shaft. Excluded from standard homeowners policies, as are other forms of earth movement.
Mini Tail
Automatic 60 day extended, reporting period allowing for the making of claims after expiration of a “claims-made” liability policy. Also See Also: “Extended Reporting Period.”
Mini tail (Liability Insurance)
A 60-day extension to the reporting time frame of a policy. This automatic extension allows the insured to make claims after a claims made policy has expired.
Minimal care
Medical care given to patients who can ambulate and are partially self-sufficient, requiring limited therapeutic and diagnostic services, and in the final stages of recovery. Services might include administration of medications and treatments that cannot be done by the patient and giving self-care instructions and posthospitalization health maintenance.
Minimal care unit
Hospital department for the treatment of inpatients who are ambulatory and able to meet many of their own daily living needs but require minimal nursing care.
Minimal pain
In a workers’ compensation case, pain that would represent an annoyance but would cause no handicap in the performance of the particular activity and would be regarded as a nonratable permanent disability.
Minimal presenting problem
In CPT coding of a service or procedure, this is a problem that may not require the presence of the physician, but service is provided under the physician’s supervision.
Minimizing a Loss
It is the duty of a Policyholder, when an insured loss occurs, to take all reasonable steps to minimize the loss, acting as he would in his own interest if the loss were uninsured.