Proposition 1: In a second-best allocation, (i) low-bequest types obtain interim efficient life insurance, while high-bequest types are overinsured
against the risk of death; (ii) preference risks are only partially insured: from an ex ante perspective, individuals would wish that more wealth be transferred from bequest type A to type B.
Many of the low-risk patients are the overinsured
Aviva, the UK's biggest insurer, points out that businesses which have downsized due to the recession need to make sure they're not overinsured
Maximum mortgage amounts--failure to calculate the maximum mortgage amount correctly, thereby resulting in an overinsured
It extended as far as Tampa, to an arson ring consisting of a crooked real estate agent who "found" the properties; an agent who more than willingly overinsured
them; an arsonist named "Smokey the Bear Noriega" who torched them; and a claim adjuster who declared every one of the losses "incendiary, by persons unknown.
So most patients were -and are - overinsured
, and health care is far more expensive than it needs to be.
In other words, any ex post claim payments will be capped at the minimum of actual loss and the sum insured even if an asset is overinsured
On average, fewer workers were underinsured and more workers overinsured
in the partial-mandate treatment than in the no-mandate treatment.
The corporation is overinsured
and the life insurance proceeds exceed the value of the stock redemption.
These are invariably situations involving serious moral hazard, in which the insured has overinsured
against some contingency and then engineered the very contingency for which he purchased insurance.
Because most businesses do not operate evenly from day to day throughout the year, a business that selects a valued policy form may be in danger of being underinsured or overinsured
at specific times of the year.
It seems I am overinsured
for some hazards, while totally at the mercy of the gods in other vital areas.