Moral hazard: Difference between revisions
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Revision as of 19:20, 9 November 2013
The risk that an insured may attempt to take unfair advantage of an insurer or other guarantor, for example by suppressing information relevant to the assessment of a risk or by not acting in accordance with the terms of a policy.
For example UK pensions legislation contains a number of clauses specifically designed to reduce the risk of moral hazard.
