Category: Insurance Underwriting

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 […]

Speculative Risk Versus Pure Insurance Risk

Speculative Risk Versus Pure Insurance Risk Speculative Risk Versus Pure Insurance Risk

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 […]

Writing Insurance Requires Knowing All About Insurance Risk

Writing Insurance Requires Knowing All About Insurance Risk Writing Insurance Requires Knowing All About Insurance Risk

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 […]

Insurance Risk – The Most Important Factor in Insurance Underwriting

Insurance Risk – The Most Important Factor in Insurance Underwriting Insurance Risk - The Most Important Factor in Insurance Underwriting

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 […]