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Describe main elements for underwriting procedure in general insurance?

Please describe all elements that is useful for underwriting process and can change the derision of underwriter.

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Question ajoutée par Faisal Mahmood , Sales And Marketing Manager , Rayyan Haq Travels and Tours Pvt Ltd.
Date de publication: 2014/07/04
Mamoun elbaghir abdalla mhamad Eltayeb
par Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company

The main job of the insurance underwriter is to assess and evaluate the proposed riks and take decision about the acceptance or decline such bussiness and lmpose fair rate and condition. To do this job the underwriter must take into consideration the following :-

 1)The degree of risk exopsure.

2)Saftey procuations.

3)Loss / claims record and experience in the similar risks.i.e the performance of similar risks.

4) The degree of moral or morale hazard.

5) Finally and most important is to make survey either by the underwriter himself or by appointed prffessional surveyor, this will certainly assist in assessing and evaluating the risks in questions more accurately.

 Best regards.

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