Insurance increases the number of intentional losses that occur in society.

Name: Insurance increases the number of intentional losses that occur in society.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is known as the moral hazard problem in insurance. When people have insurance coverage, they are more likely to take risks or engage in behavior that may lead to losses because they know they are protected. This can lead to an increase in deliberate or intentional losses.

Insurance Increases the Number of Intentional Losses That Occur in Society