Underwriting Practices

Underwriting Practices

Course Overview

Underwriting is the process of selecting certain types of risks and rejecting others so the insurance company will have a book of business that will create a profit for the company. Underwriting also involves pricing risks and determining policy terms and conditions.

But who decides which risks are acceptable to the company? How are rates and rating plans developed? Why do insurance companies modify their underwriting policies in response to changes in market conditions?

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