Category: Insurance Risk

Risk VS. Reward

Risk VS. Reward Risk VS. Reward

In the financial world, an important concept to consider when doing business is “risk vs. reward.” It’s an important concept to understand whenever an investment is being made. Financial institutions take risks whenever they lend money to an individual or a business. The risk is that the loan will be repaid as agreed. If so, […]

How Insurance Risk Factors Into Insurance Underwriting

How Insurance Risk Factors Into Insurance Underwriting How Insurance Risk Factors Into Insurance Underwriting

As an insurance underwriter, your number one concern when writing a policy is the level of insurance risk you perceive being represented by the proposed insured. Different Policy Coverages for Different Risks If you’re an underwriter handling primarily life insurance policies, the main risk you’re faced with is how likely the insured is to die […]

Heightened Insurance Risk Posed By Climate Change

Heightened Insurance Risk Posed By Climate Change Heightened Insurance Risk Posed By Climate Change

Natural disasters and climate change have been on peoples’ minds for several years and, if you’re involved in the P&C insurance industry, is a main concern affecting insurance risk. Natural disasters have been increasing in both frequency and severity, which means insurance payouts on policies covering these types of events have also increased in frequency and […]

Looking at Insurance Risk as an Insurance Underwriter

Looking at Insurance Risk as an Insurance Underwriter Looking at Insurance Risk as an Insurance Underwriter

As an insurance company policy underwriter, you have a number of important jobs that will help to determine the profitability of your company. Job number one is to determine the level of insurance risk represented by a proposed policy being considered. All insurance contracts, which are risk-sharing agreements between an insurer and an insured, are […]

Covered and Uncovered Home Insurance Risk Types

Covered and Uncovered Home Insurance Risk Types

From an insurance risk perspective, the year 2021 was one of the worst in recent history for the insurance industry. In addition to the ongoing health claims caused by the Covid-19 Pandemic, now over two years running, insurers have also had to deal with an unprecedented number of worldwide natural disasters, including: Earthquakes (Haiti) Floods (Germany, […]

Understanding Insurance Risk for Accurate Policy Writing

Understanding Insurance Risk for Accurate Policy Writing Understanding Insurance Risk for Accurate Policy Writing

If you’ve ever watched a Grand Prix motorcycle racer whipping around the curves with parts of his body mere inches from the track surface, you may have wondered why anyone would willingly take such an obvious risk. When looking at this scene from an insurance risk perspective, you’ll see the risk of: Damaging/destroying the GP […]

Various Types of Insurance Risk

Various Types of Insurance Risk Various Types of Insurance Risk

Insurance risk is the threat of a future financial loss that an insurer is willing to share with an individual or entity facing that threat. Insurance spreads the risks of policyholders among those policyholders by incorporating the Law of Large Numbers. It’s risk-sharing with other policyholders within the same class and is based on the probability of loss. […]

Accurately Figuring Insurance Risk

Accurately Figuring Insurance Risk Accurately Figuring Insurance Risk

Insurance risk has many faces, each depending on the type of insurance being considered. When à client is buying full coverage car insurance, for example, as an insurance underwriter, you’re looking at a long list of insurance risks that represent potential losses, including: Car damage from a collision Car damage from other than a collision […]

The Many Facets of Underwriting

The Many Facets of Underwriting The Many Facets of Underwriting

Insurance has been around since ancient times when it’s believed it first became popular as a risk-sharing scheme between ship owners carrying goods across the oceans and investors willing to provide indemnity for these goods and the ships carrying them for a fee. But even before this, a form of insurance can be found written […]

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