An Insurer Requiring a Policyholder with a Collision Claim to Submit

question 32

True/False

An insurer requiring a policyholder with a collision claim to submit more than one estimate of the repair costs is using a deductible to reduce morally hazardous behavior.

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Definitions:

Intrapreneurship

The practice of fostering entrepreneurial behavior within a large organization to develop new products or technologies.

Command and Control

A hierarchical organizational structure and management style where decisions and directives come from the top and are implemented without questioning by lower levels of the organization.

Innovation

The process of translating an idea or invention into a good or service that creates value or for which customers will pay.

Civil Disobedience

The active, professed refusal to obey certain laws, demands, or commands of a government, as a form of peaceful political protest.