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Manager
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In reinsurance, any person, partnership or corporation representing an insurer or reinsurer and underwriting for the insurer's or reinsurer's account.
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MFL (Maximum Forseeable Loss)
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The anticipated maximum property fire loss that could result, given unusual or the worst circumstances with respect to the nonfunctioning of protective features (firewalls, sprinklers, a responsive fire department...as opposed to PML (Probable Maximum Loss), which would be a similar valuation but under the assumption that such protective features function normally.
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Minimum Premium
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The least premium charge applicable, frequently used in excess of loss reinsurance contracts (per risk or catastrophe covers) which contain a provision that the final adjusted premium may not be less than a stated amount.
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Mortgage Insurance
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A specialty line among financial guarantees which indemnifies a mortgage lender for loss on real estate loans resulting from default by a borrower if liquidation of the property proves insufficient to cover the outstanding principal. |
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