The Florida Insurance Glossary, designed to help Florida residents better understand the terms used.



Managing General Agent:  An insurance company’s representative (wholesale agent) that deals with other
insurance agents (retail agent).

Mediation:  Process by which a third party attempts to settle a disputed claim between the claimant and insurance
company.

Medical Payments Insurance:  A reimbursement for medical or funeral expenses due to bodily injury from an
accident without regard to fault.

Mercury auto insurance:  The Mercury Insurance Group has been providing Florida with top quality car insurance
for years.

Miami Auto Insurance:  Auto insurance for Miami Florida.

Misrepresentation:  A false or misleading statement by the insured on an application for insurance which may
provide a reason for the company to void the policy.

Moral Hazard:  The tendency for an insured to be dishonest regarding an insurance claim because of a specific
reason or circumstance.

Motor Vehicle Record (MVR):  The official state record of an individual driver’s license which includes issued
citations.

Multi-Car Discount:  A reduction in the base premium of an auto insurance contract due to two or more vehicles
being insured.

Mutual Insurance Company:  An insurance company which is owned by its policyholders as opposed to a stock
company which is owned by shareholders.
Car Insurance Specialists & Florida Independent Agents
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