One of the fundamental terms in the insurance lexicon is to be purged by the Japanese government. According to The Times, the Japanese rendering of "moral hazard" - moraru hazaado - and 51 other words loaned from English, has been banned from all official documents by the National Institute of Japanese Language. Will this have a detrimental effect on the quality of underwriting in the region? Lloyd's, as a major insurance market for the area, should take note.