Insurance Underwriting Law and Legal Definition
Insurance underwriting is the process of choosing who and what the insurance company decides to insure. This is based on a risk assessment. An insurance company underwrites a policy when it agrees to take the risk of insuring life or covering medical expenses in exchange for the premium paid. They decide how much coverage the client should receive, how much they should pay for it, or whether even to accept the risk and insure them.
Legal Definition list
Related Legal Terms
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Actual Cash Value Insurance
- Actual Delivery of Insurance Policy
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
