Which of the Following Arises in Policies in Which the Insured

question 73

Multiple Choice

Which of the following arises in policies in which the insured event occurs during a coverage period but a claim is not filed or reported until many years later?

• A)Short-tail losses.
• B)Adverse selection.
• C)Moral hazard.
• D)Long-tail losses.
• E)Social inflation.

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Definitions:

Selling Organs

The act of trading human organs, such as kidneys or livers, for money or other benefits, often considered unethical or illegal in many jurisdictions.

Market Approach

A strategy or philosophy that emphasizes free-market competition and consumer choice as the best way to allocate resources, promote efficiency, and foster innovation and economic growth.

Rights

Entitlements or privileges granted to individuals, typically by law or social agreement, which are considered fundamental to human dignity and social functioning.

Annas

George J. Annas, an influential figure in bioethics, known for advocating human rights in healthcare and medical ethics.