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Adverse selection |
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Adverse selection Refers to a situation in which sellers have relevant information that buyers lack (or vice versa) about some aspect of product quality. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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This underwriter would broadly define antiselection as a state that exists when the proposed insured is aware of facts in his health habits (or lack thereof), medical history, avocations, and other scenarios that are intentionally not disclosed at the time of application. The new process maximizes detection of antiselection and fraud while increasing underwriter efficiency. Companies also should consider how changing their underwriting requirements might influence the risk of antiselection and how antiselection may change the frequency of an impairment among those applying for insurance. |
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