NOTE:  All definition are from the Insurance Bureau of Canada


MALFEASANCE - The doing of an unlawful act, e.g., trespass.

MALICIOUS MISCHIEF - Injury to the rights or property of another with a wicked or perverse intent.

MALPRACTICE - A performance by a professional which is deficient in skill from what might ordinarily be expected of a professional person. The standard of performance to which a professional person will be held is necessarily higher than the standard which an unskilled person would be expected to display.

MATERIAL FACT - Information about the subject of insurance, insured risk, that, if known, would change the underwriting basis of the insurance, and which could cause the insurer to refuse the application or charge a higher rate.

MATERIAL MISREPRESENTATION - When a policyholder or applicant makes  a false statement of material (important) fact on the application, he or she  has committed a material misrepresentation, which may result in loss of  coverage.

MORAL HAZARD - A position taken by an insured that  increases the chance of a loss or the seriousness of a loss.

MULTI-PERIL POLICY - A package policy, such as a homeowners or business insurance policy, that provides coverage against several different perils. It also refers to the combination of property and liability coverage in one policy. In the early days of insurance, coverages for property damage and liability were purchased separately.

MUTUAL INSURANCE COMPANY - Mutual insurance companies are home, car and business  insurance companies without stockholders. The owners are the policyholders. It  is the policyholders (the owners) who elect the directors of the company.

MYSTERIOUS DISAPPEARANCE - The disappearance of insured property in an unexplained manner. For example, if a ring is left in a public place and the owner returns later to find the ring gone, it is reasonable to assume that the ring has been stolen. However, there is no direct evidence that this is in fact what happened. This would be an example of mysterious disappearance.

  • We came back from London last Thursday night. Our daughter Anna had settled in London now and very anxious about her new school life. I want to thank you for introducing Fred to us for Anna's insurance. He was super helpful (day and night) that made me feel so easy to get things going as we travel.