When individuals conceal their increased risk for a disease from insurance companies, this is known as:

Name: When individuals conceal their increased risk for a disease from insurance companies, this is known as:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Adverse selection occurs when one party in a transaction has more information than the other, particularly in insurance, where individuals with a higher risk of loss are more likely to purchase insurance, but may not disclose this risk to the insurer.

When Individuals Conceal Their Increased Risk for a Disease from Insurance