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What is the adverse selection in insurance underwriting?

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Question added by Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company
Date Posted: 2015/03/07
ايمن محمد عاطف محمد
by ايمن محمد عاطف محمد , Director of the control and regulation unit , ACOLID

. Insurance companies, like most companies, have competition. The better that an insurance company can calculate risks, the lower the premiums that it can charge and still make a profit. One way to do this is by underwriting, which is the selection and classification of insurance applicants according to the probable payout for that class.

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