Insurance Underwriting
/ɪnˈʃʊərəns ˈʌndərˌraɪtɪŋ/
Definitions
- (n.) The legal and financial process by which an insurer evaluates risk and decides on policy terms and premiums.
Insurance underwriting requires a thorough assessment of risk factors before issuing a policy.
Forms
- insurance underwritings
Related terms
See also
Commentary
Underwriting involves both legal and actuarial judgment; precise wording in policies affects coverage and liability.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.