Sigma's
Underinsurance report cites low awareness, which leads not only to
underinsurance, but also to low levels of investment in the prevention or mitigation of risks.
In an opinion piece published in the September 2011 issue of Life Insurance Selling about America's
underinsurance problem, LIFE Foundation President and CEO Marvin H.
In the event of a significant claim
underinsurance can be devastating, especially as the majority of businesses never recover from a major loss such as a fire.
A constellation of factors is frequently cited: out-of-pocket medical expenses, lost income during illness, loss of medical coverage,
underinsurance or no insurance, and the pile-up of bills from using credit cards to pay for medical expenses.
Underinsurance and a lack of insurance are among the biggest concerns for both parties.
In addition to the psychological factors discussed by the authors, government policies may also contribute to
underinsurance and too little mitigation against catastrophic losses.
183) Even in the case of
underinsurance, when the insured suffers only a partial loss, unjust enrichment may still occur.
Researchers in epidemiology, biostatistics, community and public health, and other fields from North America, Australia, and Europe discuss determinants of changes in cardiovascular disease; epidemiology and biostatistics; environmental and occupational health, including toxicity testing, genetic susceptibility and occupational health standards, and prenatal famine and adult health; global public health practice; social environment and behavior, including physical activity, prematurity, and obesity; and services, such as the health effects of economic decline, whether the healthcare workforce will be ready for aging baby boomers,
underinsurance in the US, and the US Healthy People initiative.
One of the systemic factors involved in producing disparities, lack of insurance and
underinsurance, continues to dramatically increase in the United States.
Hiscox has also put together an
underinsurance trigger list to help people think about the value of their possessions:
This strategy seeks to counteract
underinsurance against catastrophic risks by exploiting consumers' seeming excess enthusiasm for tontines.
These compromises have contributed to market inefficiencies and consumer
underinsurance.
