When the insured knows more about their circumstances than the insurer, there is

A. adverse selection.

B. All of these

C. propitious selection.

D. moral hazard.

E. asymmetric information.

An insurance company is a business firm that is establish to collect premium from all of the insured for losses which may or may not occur, so they can easily use this cash to compensate or indemnify for losses incurred by those having high risk.

In Economics, when the insured party knows more about his or her circumstances than the insurer, then there is:

Adverse selection

Propitious selection

Moral hazard

Asymmetric information

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When the insured knows more about their circumstances than the insurer, there is A. adverse selection. B. All of these C. propitious selection. D. moral hazard. E. asymmetric information.

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What is an insurance company?

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When the insured knows more about their circumstances than the insurer, there is

A. adverse selection.

B. All of these

C. propitious selection.

D. moral hazard.

E. asymmetric information.