Exclusions are specific conditions or circumstances that the travel insurance policy does not cover. These are specific risks that are excluded to mitigate risk-taking behaviour of the insured, adverse selection and to lower the price of the insurance policy given the lower level of risks the policy assumes. Adverse selection refers to the adverse impact borne by insurers when they insure risks that have a higher probability of loss. For example, a person travelling to a war zone will want to buy more insurance coverage as the likelihood of a claim is high.