Income Protection Insurance Assessment Essay Example | Topics and Well Written Essays - 750 words

Income Protection Insurance Assessment - Essay Example Adverse selection is often referred to as hidden information problem in the market, where for instance, sellers may know more about a product than a customer. In the case of Mr. Farid and Prudent Insurance, Mr. Farid faced different probabilities of his insurable event occurring, some at least under his control. Prudent Insurance, therefore, assumed Farid was either a low risk or high risk of the insured event happening. However, it could not individually classify Mr.Farid. Therefore when he fell sick, Prudent Insurance ascertained truth by sending him a claims form. This was in an attempt to solve the problem of adverse selection. I would not approve Mr.Farid’s claim for insurance for income protection. Mr. Farid had a heart valve disorder and this had the potential to present problems in future. It is an element of risk that I could not afford to look as an underwriter. By accepting his application claim, it means Mr.Farid had the motive of using this policy to claim for healthcare expenses. In other words, there was an element of moral hazard. Prudent Insurance should deny the claim. The reason Mr. Farid could not work a year after taking cover was that of his state of poor health. This was due to the heart valve disorder. This disorder was not covered in the policy given to Mr. Farid and thus, he could not claim. Also, the claims form indicates Mr. Farid spent less than an hour on the activities of lifting and carrying heavy items. These two had the biggest risk compared to driving and climbing ladders. Information about Mr.Green’s earlier convictions are important in determining the underwriting decision in that, if it is a restriction by the company, then Mr. Green did not act in good faith to inform the insurance of his past criminal activities. Though he was asked in the application form, he claims to have stated it orally to the broker, a fact the broker denies.

Why were American politicians unable to fashion a compromise, as they Essay

Why were American politicians unable to fashion a compromise, as they had done in the past, to avoid a civil war in 1860 and 186 - Essay Example Most authors have tried to give an explanation as to why American politicians were unable to avoid the occurrence of the war in the year 1860 and 1861. This leads to a number of questions. Why and how did the status of middle class women change between the years1776 and 1876? What militaries or ideas inspired and influenced antebellum reform remake and change of American society during the antebellum years? What made Southern nations to secede from the unification in the year1860 and 1861? This essay answers these three questions, hence outlining the reasons why American politicians were unable to avoid civil war in 1860 and 1861. Northern Middle-Class Women The change of lives and status of Northern middle class women between 1776 and 1876 really influenced the occurrence of the civil war. Women with delegate credentials such Lucretia Mott were denied access to the national assembly of the World Antislavery Convention (WAC) in London (Blackstone 5). This highly resulted in protests due to rejection of gender equality. Some of the angered delegates such as Mott stormed from this gender dissatisfaction to support the protests, which contributed to the civil war (DBQ #11, Doc. #3). During this era, women were unable to occupy the ethnically fashionable â€Å"separate sphere† hence this led to gender equality violence. ... #6). Antebellum Reforms The efforts and notions, which enthused and aggravated the antebellum reforms highly influenced the occurrence of the 1860 civil war. There is not period in the history of America that had superior efforts to change society than the preceding four years before the Civil War (DBQ #9, Doc. #1). During these four decades, there was a diversity of social problems, which came under attack (Blackstone 7). The most prominent reformer of the antebellum reform was Horace Mann. Throughout the years 1837 to 1848, this reformer (Mann) was the leader of the Massachusetts Board of Education. During his leadership, Mann was a tireless supporter of education and stated that, if the civic failed to prepare the children to be effective citizens, then the republic was to undergo destruction like other nations (DBQ #11, Doc. #4). During these years, many Americans worked tirelessly to construct public schools, improve healthcare facilities, promote women’s rights, and chan ge criminal integrity system, and battle drunkenness and poverty. By the 1850’s, abolitionism, which was an attempt to end slavery in American became the greatest issue of the antebellum reform movement (DBQ #9, Doc. #1). According to President Jackson’s statement, â€Å"I deem man can be prominent†¦Ã¢â‚¬  quoted from (Alice 22), people are more godlike, and they were capable of eliminating any challenge and governing themselves through perfecting the institutions in order to perfect the American democracy (DBQ #11, Doc. #1). In the American history, antebellum reform comprised of frantic efforts to eradicate evils and right wrongs, which soon resulted to wars (McCutchen 33). William started publishing The Liberator in the year 1831whose aim was to motivate people to lift up the