Monopsony
This term refers to a selling limitation
on a buyer of a product. In a monopsony, the buyer
of a product is limited to reselling the product to
only to the original seller. Before the evolution of
the secondary insurance market, insurance companies
had a monopsony on the sale of insurance policies,
as policy owners could only resell (terminate or surrender)
theirpolicies to the issuing insurer.
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