In insurance, the term “moral hazard” refers to:
A. The risk of loss resulting from an insured event.
B. The intentional causing of a loss to collect insurance benefits.
C. The uncertainty surrounding the occurrence of a loss.
D. The increased risk of loss due to the insured’s behavior or characteristics.
Answer:D
In insurance, the term “moral hazard” refers to:
A. The risk of loss resulting from an insured event. B. The intentional causing of a loss to collect insurance benefits. C. The uncertainty surrounding the occurrence of a loss. D. The increased risk of loss due to the insured’s behavior or characteristics.