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Addressing Market Imperfections

Insurance companies try to mitigate adverse selection and moral hazard costs in number of ways. To prevent adverse selection, they screen applicants to assess their risk as accurately as possible. Just as medical examinations are often required for individuals seeking life insurance, plant inspections and reviews of safety procedures are required to obtain large commercial insurance policies. To deter moral hazard, insurance companies routinely investigate losses to look for evidence of fraud or deliberate intent.

Insurance companies also structure their policies in such a way as to reduce these costs. For example, most policies include both a deductible, which is the initial amount of the loss that in not covered by insurance, and policy limits, which limit the amount of the loss that is covered regardless of the extent of the damage. These provisions mean that the firm continues to bear some of the risk of the loss even after it is insured. In this way, the firm retains an incentive to avoid the loss, reducing moral hazard. Also, because risky firms will prefer lower deductibles and higher limits, insurers can use the firm’s policy choice to help identify it risk and reduce adverse selection.

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  • Leo
    Lv 7
    1 0 年前
    最佳解答

    來嘍, 就不知道幫不幫得上忙 ~

    圖片參考:http://tw.yimg.com/i/tw/ugc/rte/smiley_4.gif

    Addressing Market Imperfections市場缺陷問題的討論

    Insurance companies try to mitigate adverse selection and moral hazard costs in number of ways. To prevent adverse selection, they screen applicants to assess their risk as accurately as possible. Just as medical examinations are often required for individuals seeking life insurance, plant inspections and reviews of safety procedures are required to obtain large commercial insurance policies. To deter moral hazard, insurance companies routinely investigate losses to look for evidence of fraud or deliberate intent.

    保險公司會以各種方式設法避免蓄意保單和投保人不可靠所冒風險的成本. 要防止蓄意保單, 他們會儘可能準確地估計他們的風險來篩選申請人. 就像體檢通常是個人想要投保人壽保險的必需證件,要求工廠檢查及安全程序的檢視是投保巨額工商保險單的必要程序一樣. 要阻止投保人不可靠所冒風險, 保險公司會定期地調查損失來尋找被欺騙的證據或投保人的惡意傾向.

    Insurance companies also structure their policies in such a way as to reduce these costs. For example, most policies include both a deductible, which is the initial amount of the loss that in not covered by insurance, and policy limits, which limit the amount of the loss that is covered regardless of the extent of the damage. These provisions mean that the firm continues to bear some of the risk of the loss even after it is insured. In this way, the firm retains an incentive to avoid the loss, reducing moral hazard. Also, because risky firms will prefer lower deductibles and higher limits, insurers can use the firm’s policy choice to help identify it risk and reduce adverse selection.

    保險公司也會依降低這些損失費用成本的目標來建構他們的保單. 例如, 多數保單都會包括可扣除額, 等於是最初相當數量的損失是沒有由保險理賠的, 以及保單限制, 不管損傷的程度限制理賠金額的上限. 這些條款意味著企業繼會承擔某些損失的風險即使它買了保險. 這樣, 企業保留避免損失的誘因, 降低投保人惡意投保的風險. 同時, 因為高風險的企業一般比較喜歡低扣除額和高的理賠限額, 承保的保險公司可以使用公司的保單策略選擇來幫助辨認它風險和減少惡意保單的保戶.

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