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
Low-cost life insurance sold by savings banks in the states of Connecticut, Massachusetts, and New York. SBLI is a popular source of life insurance in these states for two reasons: it is ...
Amount paid to an insurer. Determination of the actual cost (not the price paid) of a life insurance policy has been widely discussed for many years in life insurance and consumer circles. ...
In an insurance policy, sentences and paragraphs describing various coverages, exclusions, duties of the insured, locations covered, and conditions that suspend or terminate coverage. ...
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. ...
Written statement by an insurance company attesting to the powers it has vested in an agent. ...
Refusal by an insurance company to underwrite a risk. ...
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