Moral Hazard
Definition of "Moral hazard"
Circumstance which increases the probability of loss because of an applicant's personal habits or morals; for example, if an applicant is a known criminal.
Popular Insurance Terms
Performance of managerial and clerical functions related to an employee benefit insurance plan by an individual or committee that is not an original party to the benefit plan. In selecting ...
Federal agency that regulates the securities markets. The independent, five-member commission was created under the Securities Exchange Act of 1934 to enforce the securities act of 1933. ...
Medical malpractice that is the legal responsibility of a person or organization not in the medical profession or business. It is usually covered under a professional liability insurance ...
Contributions to a pension plan on a fixed basis according to a formula, with variable benefits. Contributions can be made under an allocated funding instrument (paid to an insurance ...
Time frame during which an annuitant receives income payments from the insurance company, usually on a monthly basis. The obligations of the company to the annuitant during the liquidation ...
Insurance that acts as a supplement to medicare in that it will pay the deductibles and coinsurance sums that the Medicare recipient is responsible for paying. In addition, some policies ...
Insurance company's total number of agents. ...
Legislation that provided temporary rules for implementing the employee retirement income security act of 1974 (erisa). ...
Replacement for the earlier Family Automobile Policy (FAP) with these nine basic coverages: Coverage A Liability, The company pays damages for which an insured becomes legally obligated ...
Have a question or comment?
We're here to help.