Which of the following reports has the primary purpose lo inform an insurance company about a prospect's previous medical insurance history? A.Medical Information Bureau (MIB) B,Attending physician's stalement C.Inspection report D.Producer's report

Which of the following reports has the primary purpose lo inform an insurance company about a prospect's previous medical insurance history? A.Medical Information Bureau (MIB) B,Attending physician's stalement C.Inspection report D.Producer's report

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter14: Transaction Costs, Asymmetric Information, And Behavioral Economics

Section: Chapter Questions

Problem 3.8P

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Concept explainers

Moral Hazard

The moral is a person's behavior towards himself /herself, society, organization, and others. Hazard is something that is happening and is not good. A person may be morally good or bad. It depends on his attitude, ethics, integrity, and values. A person may have the highest reverence for money to that for the truth. In this case, the person may lie and it is said that the person is morally bad.

Question

Which of the following reports has the primary purpose lo inform an insurance company about a prospect's previous medical insurance history?

A.Medical Information Bureau (MIB)

B,Attending physician's stalement

C.Inspection report

D.Producer's report

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