Jump to ContentJump to Main Navigation
Embracing RiskThe Changing Culture of Insurance and Responsibility$
Users without a subscription are not able to see the full content.

Tom Baker and Jonathan Simon

Print publication date: 2002

Print ISBN-13: 9780226035185

Published to Chicago Scholarship Online: March 2013

DOI: 10.7208/chicago/9780226035178.001.0001

Show Summary Details
Page of

PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 23 January 2020

Beyond Moral Hazard: Insurance as Moral Opportunity

Beyond Moral Hazard: Insurance as Moral Opportunity

Chapter:
(p.52) Three Beyond Moral Hazard: Insurance as Moral Opportunity
Source:
Embracing Risk
Author(s):

Deborah Stone

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226035178.003.0003

This chapter introduces the important new concept of the “moral opportunity” of insurance. This term is coined to identify an expansionary social dynamic that counters the individual-based forces of moral hazard and adverse selection that traditionally concern insurance and economic analysts. The moral opportunity of insurance is a social dynamic that tends to increase what gets perceived as insurable and deserving of collective support. The chapter identifies six distinct mechanisms underlying this expansionary dynamic of insurance. It argues that the dynamic is appropriately thought of as moral opportunity, because it is powered by beliefs that insurance is a way to help others and to be helped. The discussion of the moral opportunity of insurance reveals the influence that insurance institutions and technologies have on how we imagine individual and social responsibility.

Keywords:   moral opportunity, insurance, social dynamic, insurance institutions, technologies, social responsibility

Chicago Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.