Any insurance coverage written as a single line policy. Contrast with Multiple Line or Package policy. (G) Moral Hazard. A condition of morals or habits that increases the probability of loss from a peril. An extreme example would be an individual who previously burned his own property to collect the insurance. (G) Morale Hazard. Hazard arising out of an insured's indifference to loss because of the existence of insurance. The attitude, "It's insured, so why worry," is an example of a morale hazard. (G) Mutual Fund. An investment company that raises money by selling its own stock to the public. It then invests the proceeds in other securities. and the value of its own stock fluctuates with its experience with the securities in its portfolio. Mutual funds are of two types: (1) Open-end, in which capitalization is not fixed and more shares may be sold at any time. (2) Closed-end, in which capitalization is fixed and only the number of shares originally authorized may be sold. (G) Mutual Insurer. stupsertod, stupgr1, stup15site