A moratorium is when carriers will put a stop on writing a certain type of business for a limited period of time, generally to avoid adverse selection. It is common when hurricanes approach carriers will put a moratorium on writing new property coverages when a storm is named lasting until the storm passes and is downgraded. The carrier avoids a sudden influx of policies that are exposed to the approaching hazard that are likely to cancel the insurance after the hazard passes.
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A legal authorization to debtors to postpone payment.
Insurance Encyclopedia
Morbidity
Term used for sickness. A morbidity table shows the average number of illnesses befalling a large group of persons.
Morbidity (Health Insurance)
The comparative frequency of disease.
Morbidity for Health
The relative incidence of disease.
Morbidity rate (Health Insurance)
A ratio determined by comparing the frequency of illness to the amount of healthy people in a group over a certain time frame. This rate may also be calculated using the incidence of new cases or the amount of cases of a certain illness.
Morbidity Rate for Health
The ratio of the incidence of sickness to the number of well persons in a given group of people over a given period of time. It may be the incidence of the number of new cases in the given time or the total number of cases of a given disease or disorder.
Morbidity Table
A table showing the incidence of sickness in the population or in a selected group.
Morbidity table (Health Insurance)
A table, similar to a mortality table, that shows the frequency of illness at certain ages.
Morbidity/morbidity table
Relative incidence of disease and accidents in a welldefined class or classes of person. It is set out in statistics based on actuarial practice called a morbidity table and used by health and life underwriters.
More specific insurance clause
A noncontribution clause. Two policies may cover the same property and same interest, one in specific terms and the other in general terms. To prevent contribution, the clause provides that a more specific insurance operates first when a claim occurs. ‘More specific’ refers to the range of property covered and not the range of perils.