Identification -Ogotai

question 104

Short Answer

Identification
-Ogotai

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Definitions:

Moral Hazard

A situation in which one party is more likely to take risks because they do not bear the full consequences of their actions, often due to information asymmetry.

Deductible

The amount paid out of pocket by the policyholder before an insurance company pays a claim.

Insurance Coverage

The amount and types of risk or liability that are covered for an individual or entity by insurance services, against losses.

Flood Insurance

A specific type of insurance policy that covers property damage due to flooding, often required for buildings in flood-prone areas.