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Glossary L-M


labor contractor


Lamb-Weston Rule


lapse ratio

large deductible plan

large line capacity

laser exclusion

last injurious exposure

latent defect

lateral hire

laundry listing

law clerk

law enforcement officers liability

law of large numbers

lawyers professional liability coverage



lay-up warranty

LC5-lethal concentration

LD50-lethal dose


lead reinsurer

leasehold interest

legal action against insurer

legal liability coverage form (ISO)

legal risk

lender liability

lenders liability coverage

lenders loss payable endorsement


lessees of safe deposit boxes coverage form I


less than truckload (LTL)

letter of credit (LOC)



liability for guests' property, premises coverage form L

liability for guests' property, safe deposit box coverage form K

liability insurance

liability limits

Liability Risk Retention Act


liberalization clause


license and permit bond

licensed insurer/reinsurer


life expectancy

life insurance trust

Life Office Management Association (LOMA)

Life Underwriter Training Council (LUTC)

Lilly Ledbetter Fair Pay Act of 2009


limitation of liability clause

limitation of risk

limited liability company (LLC)

limited losses

Limited Mexico Coverage Endorsement

limited severability provision

limit of insurance

limit of liability

'limits reduction' provision

limits under multiple policy (LUMP) years


line of business

line sheet

line slip

liquidated damages


liquidity ratio

liquidity risk

liquor law liability (dramshop)


litigation management

Little Miller Acts

livestock collision

livestock mortality insurance

Lloyd's broker

Lloyd's central fund

Lloyd's managing agent

Lloyd's members' agent

Lloyd's of London

Lloyd's syndicate

Lloyd's underwriter


loan participation coverage

locality standard

London form (BFPD)

Longshore and Harbor Workers Compensation Act (LHWCA)

long tail liability

long-term disability (LTD) income insurance

long-term insurance


loss adjustment expense (LAE)

loss assessment

loss carry forward

loss conditions

loss constant

loss control

loss conversion factor (LCF)

loss costs

loss damage waiver (LDW)

loss development

loss development factor

losses incurred

losses in excess of policy limits

loss forecasting

loss limit

loss limitation

loss loading (multiplier)

loss mitigation underwriting (LMU)

loss of consortium suits

loss of income coverage

loss payable clause

loss payout curve

loss pick

loss portfolio agreements

loss portfolio transfer (LPT)

loss prevention

loss rating

loss ratio

loss ratio coverage

loss reduction

loss report

loss reserve

loss reserve stability

loss sensitive plans

loss trending

loss triangle

lost policy release

lowest achievable emission rate




maintenance, cure, and wages

maintenance wrap-up

major life activity

major medical insurance

malicious prosecution


malpractice insurance

managed care

managed care coverage endorsement

managed care liability insurance

managed care organization (MCO)

management advisory services

management liability insurance

Management Liability Insurance Specialist (MLIS™)

managing general agent (MGA)

managing general underwriter (MGU)

mandatory arbitration provision

mandatory securities valuation reserve

manifestation theory

manifest system

manual premium

manual rates

manufacturers and contractors (M&C) insurance

manufacturer's output policy (MOP)

manufacturers penalty insurance

manufacturer's selling price endorsement

manuscript certificate of insurance

manuscript form or policy

margin clause

marina operators legal liability coverage

marine insurance

maritime law

market conduct

market conduct exam

market cycles

market risk

market service agreement (MSA)

market value

market value clause

masonry noncombustible construction

master policy

material safety data sheet (MSDS)


mature claims-made


maturity date

maximum foreseeable loss (MFL)

maximum medical improvement (MMI)

maximum possible loss (MPL)

maximum premium

M&C insurance

McCarran-Ferguson Act (Public Law 15)

MCS-90 endorsement

mean reserve

mean/variance/covariance (MVC) risk modeling method

media liability coverage


mediation incentive deductible


medical fee schedule

Medical Insurance Compensation Reform Act (MICRA)

Medical Malpractice 'Caps'

medical malpractice insurance

medical payments, auto

medical payments, general liability

medical payments, homeowners


Medicare fraud and abuse insurance

membership accounting

members of Lloyd's of London

mental impairment

mental-mental injuries

menu-driven policy

mercantile open stock

mercantile robbery

mercantile safe burglary

methods and means (of construction)

Mexico coverage



Migrant and Seasonal Agricultural Worker Protection Act (MSAWPA)

mill construction

Miller Act

Million Dollar Round Table (MDRT)

mine subsidence coverage

minimum and deposit (M&D)

minimum deposit policy

minimum premium



minor's compromise

miscellaneous liability coverage


misstatement of age provision

mix of services

mobile equipment

mobile home policy


model act

modification factor (the 'mod')

modified fire-resistive construction

modified premium

monetary threshold

money and securities broad form policy

money orders and counterfeit paper currency insurance


monopolistic state funds

Montrose doctrine

Montrose endorsement

moonlighting coverage


morale hazard

moral hazard



mortality table

mortgage-backed security

mortgage errors and omissions insurance

mortgage impairment insurance

mortgage insurance

mortgage (mortgagee) clause

most favored venue wording


motion in limine

motion practice

motion to dismiss

Motor Carrier Act (MCA)

Motor Carrier Act Endorsement

motor carrier policy

motor home policy

motor truck cargo

motor vehicle

motor vehicle insurance law

motor vehicle registration law

multiemployer pension and benefit plans

multi-peril crop insurance (MPCI)

multiple-cause situation

multiple coordinated policies

multiple indemnity

multiple parent captive

multiple protection insurance

multiple trigger insurance contracts

multiplied damages

multiyear single limit (MYSL)

mutual additional insured status

mutual benefit association

mutual company

mutual fund

mutual insurer


mutual law enforcement agreements



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Our Location

Santa Maria & Company

1550 Parkside Drive, Suite 200
Walnut Creek, CA 94596
Main office: 925-956-7600
Toll free: 866-921-3347
Fax: 925-956-7601

Our Providers


I found the rare breed of insurance company that fights for you and stands by you. If you are looking for an insurance company that has integrity and amazing customer service, I would hands down, wholeheartedly recommend Santa Maria

Eli I., Remodeling Contractor
As a home builder in Northern California, I have endured numerous complicated issues while trying to protect my business from unforeseen liabilities, satisfying the multiple requirements of individual municipalities, and doing so at a reasonable expense. Santa Maria and Company has been instrumental in these dealings by providing quality advice, creative alternative solutions, and excellent service.

Dennis C., Home Builder
Santa Maria & Company helped guide our business through a difficult time by being proactive, informing us of potential obstacles, and avoiding surprises. Their customer focus has clearly covered the present, the future, and the 'what if' conditions that all businesses must deal with. We feel that our company is very well prepared to handle our complicated risk-related issues because of their support and guidance.

Robert M., Equipment Manufacturing Executive
The company is sincere, honest, always looking out for our best interests. They continually work to understand our business, to develop strategies to mitigate our exposure. That gives us a real competitive advantage.

Shaun M., Food Industry Risk Manager
Santa Maria & Company has helped us solve some tough insurance challenges, but they continue to identify emerging risks, such as cybercrime, and help us protect against them. Their customer service is fantastic.

Jeff B., Medical Industry CFO
This company knows the local insurance market better than the larger brokers ever could. They are true experts who take the time to explain all of our coverage options and help us make the right decisions. It's almost like having an insurance professional on staff.

Matt A., Food Industry Executive
It is a real advantage to work with risk insurance experts that have underwriting experience. Since we have been working with Santa Maria, we've grown a great deal and other companies are always trying to win our business. Santa Maria has the expertise in insurance and high tech industry risks that we need and their personal service is excellent.

Cynthia G., Technology Industry Executive