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 […]
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 […]
A guy walks up to a blackjack table in a casino and places a ten-dollar chip in the betting area in hopes of besting the dealer. He’s taking a risk that he may lose that $10, but also has the chance of earning $10 if he has a winning hand. He can even earn $15 […]
An insurance risk is the threat of a loss for which an insurer can provide indemnity to an insured. For every type of insurance policy out there, there are insurance risks specific to that type of policy for which specific coverage is provided. For example, for auto insurance coverage, obvious risks to you, the insurer, […]
Simply defined, risk is the possibility of injury or loss. Insurance risk revolves around this potential for loss or injury and an insurance contract represents a risk-sharing between two entities; the insured and the insurer. A synonym for risk often used in the Property & Casualty (P&C) insurance industry is “peril.” A homeowners’ insurance policy, for example, may […]
In the insurance industry, each type of insurance deals with its own types of insurance risk. Insurance risk can be defined simply as the possibility of an insured suffering a financial loss that’s covered in a policy issued by an insurance company or other insurer. As an insurance company underwriter, your job is to assess […]
Underwriting is a key factor in the world of finance, significantly affecting the businesses of insurance, loans, and investments. Underwriting services may be provided by large institutions such as insurance companies, banks, and investment houses, each of which guarantees payment in the event of damage or a financial loss occurring. Since each of these businesses […]
Customers buy a homeowner’s insurance policy in order to minimize the risk to which they are exposed should an event occur to their homes that causes damage, destruction, or other financial loss such as theft or liability suits. By underwriting the policy, your company is assuming most of the risk (minus the deductible amount) in exchange for […]
Insurance risk, like any other kind of risk, is the chance that something bad may happen. In order to be a valid insurance risk, however, that bad thing that may happen must have the potential of bringing with it a negative financial impact. Listening to the day’s weather forecast for rain and going out for […]
Lloyds of London is, contrary to popular belief, not an insurance company but rather an insurance marketplace where insurance buyers and sellers meet to do business. Originally started in a London coffeehouse during the 17th century, the prevalent insurance risk at the time was the safety of cargo ships sailing across the oceans carrying goods. […]
We’re delighted to announce that Insurance Risk Services will rebrand to Davies in the near future.
