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moral hazard

DEFINITIONS OF: moral hazard

1

n (economics) the lack of any incentive to guard against a risk when you are protected against it (as by insurance)

“insurance companies are exposed to a moral hazard if the insured party is not honest”
Type of:
endangerment, hazard, jeopardy, peril, risk
a source of danger; a possibility of incurring loss or misfortune
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