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GLOSSARY

 GLOSSARY TERMS by Alpha
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Major medical insurance
Managing General Agent (MGA)
Manuscript policy
Marine insurance
Market value
Market value appraisal
Master policy
MBIA
McCarran-Ferguson Act
MCS-90
Medicaid
Medical
Medical expenses
Medical payments insurance
Medicare
MedPay
Merit rating
Misrepresentation
Modified premium policy
Moral hazard
Mortality charge
Mortality cost
Mortality rate
Mortality table
Mortgage insurance
Mortgage life insurance
Municipal bond insurance
Mutual insurance company

Market value

The price at which insured property could have been sold just prior to its loss or damage. Along with "cost new minus use deprecation," market value is but another gauge used to determine the loss settlement to which an insured is entitled. The insured may choose the gauge that produces the most favorable outcome.

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