That section of an area in which a definite downward economic transition is in progress or has taken place. Such zone may involve moral hazard and adverse selection.
Insurance Encyclopedia
Twin Insurance
Insurance may be obtained for a natural event involving the possible birth of twins. It is possible, by early action in course of a pregnancy, to effect an Insurance payable on the occurrence of a multiple birth.
Twisting
Insurance agent or broker encourages a policyholder to cancel a policy and purchase another policy but neglects to state the differences between the two policies or the financial consequences of replacement. This practice is prohibited in the insurance industry.
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Practice of inducing any Policy holder to lapse or cancel a Policy for the purpose of replacing such Policy with another to the determinant of the Policy holder. The practice is considered to be unethical as well as illegal.
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Representing a policy as something that it is not or making comparisons that are not wholly truthful to get the policyholder to alter or switch a current policy.
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The practice of inducing by misrepresentation, or inaccurate or incomplete comparison, a policyholder in one company to lapse, forfeit, or surrender his insurance for the purpose of taking out a policy in another company.
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