MEDICAL PAYMENTS INSURANCE - A coverage in which the insurer agrees to reimburse the insured and others up to a certain limit for medical or funeral expenses as a result of bodily injury or death by accident. Payments are without regard to fault.

MEDICAL UTILIZATION REVIEW - The practice used by insurance companies to review claims for medical treatment.

MULTIPLE PERIL POLICY - A package policy, such as a homeowners or auto 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 - A company owned by its policyholders that returns part of its profits to the policyholders as dividends. The insurer uses the rest as a surplus cushion in case of large and unexpected losses.

NAMED PERIL - Peril specifically mentioned as covered in an insurance policy.

NATIONAL FLOOD INSURANCE PROGRAM - Federal government-sponsored program under which flood insurance is sold to homeowners and businesses.

NO-FAULT MEDICAL - A type of accident coverage in homeowners policies.

NOTICE OF LOSS - A written notice required by insurance companies immediately after an accident or other loss. Part of the standard provisions defining a policyholder's responsibilities after a loss.

ORDINANCE OR LAW COVERAGE - Endorsement to a property policy, including homeowners, that pays for the extra expense of rebuilding to comply with ordinances or laws that did not exist when the building was originally built.

ORDINARY LIFE INSURANCE - A life insurance policy that remains in force for the policyholder's lifetime. It contrasts with term insurance, which only lasts for a specified number of years but is renewable.

PACKAGE POLICY - A single insurance policy that combines several coverages previously sold separately. Examples include homeowners insurance and commercial multiple peril insurance.

PERIL - A specific risk covered by an insurance policy, such as a fire, windstorm, flood, or theft.

PERSONAL ARTICLES FLOATER - A policy or an addition to a policy used to cover personal valuables, like jewelry or furs.

PERSONAL INJURY PROTECTION COVERAGE / PIP - Portion of an auto insurance policy that covers the treatment of injuries to the driver and passengers of the policyholder's car.

PERSONAL LINES - Property/casualty insurance products that are designed for and bought by individuals, including homeowners and automobile policies.

POLICY - A written contract for insurance between an insurance company and policyholder stating details of coverage.

PREMISES - The particular location of the property or a portion of it as designated in an insurance policy.

PREMIUM - The price of an insurance policy, typically charged annually or semiannually.

PROPERTY / CASUALTY INSURANCE - Covers damage to or loss of a policyholder's property and a policyholder's legal liability for damages caused to other people or their property.