3-91 Which of the Following Arises in Policies in Which

question 89

Multiple Choice

3-91 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.

---

Definitions:

Cultural Consequences

Refer to the impact and changes within societies and communities due to the intermingling and exchange of cultures through migration, colonization, globalization, or cultural assimilation.

Ecological Consequences

The effects of human activities on the environment, including loss of biodiversity, climate change, pollution, and alteration of natural habitats.

Texas Independence

The process by which the Republic of Texas declared and achieved independence from Mexico in 1836, leading to its eventual annexation by the United States in 1845.

Independence Movement

A campaign by people of a territory or national group to achieve political independence from their rule or colonization by another country.