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The term "underwriting" derives from the Lloyd's of London insurance market. Financial backers (or risk takers), who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.
Underwriting is a common practice used in commercial, insurance and investment banking. Underwriters work for mortgage, loan, insurance or investment companies and do everything from evaluating ...
Life insurance underwriting is the behind-the-scenes process that plays a pivotal role in shaping your policy. This methodical evaluation delves into your personal and health details, considering ...
Medical underwriting is a health insurance term referring to the use of medical or health information in the evaluation of an applicant for coverage, typically for life or health insurance. As part of the underwriting process, an individual's health information may be used in making two decisions: whether to offer or deny coverage and what ...
An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and ...
The life insurance medical exam is part of many insurers’ underwriting processes to evaluate the risk of insuring you. The medical exam can be done at your home or office and typically takes ...
Chartered Property Casualty Underwriter (CPCU) is a professional designation in property-casualty insurance and risk management, [1] administered by The Institutes (AKA American Institute for Chartered Property Casualty Underwriters). Achieving the designation requires completion of eight courses covering topics such as risk management ...
Life insurance underwriting classifies applicants as being either a tobacco risk or non-tobacco risk. Smokers who use cigarettes regularly are considered high risk to insure, ...