Risk Tips Issue 3: Risk Underwriting
- Apr 25, 2017
- Investopedia Online, CAN Publications, Wikipedia Online encyclopedia, RIMAN CRM Pack.
Principles & Practice of Insurance: Risk Underwriting
What Is Underwriting?
The word "underwriter" originally came from the practice of having each risk-taker write his name under the total amount of risk he was willing to accept at a specified premium. This centuries-old practice continues, in a way, as new issues are usually brought to market by an underwriting syndicate, in which each firm takes the responsibility, as well as the risk, of selling its specificallotment.