Underwriting

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Level: Beginner

Why you need this course:
After completing this course, you’ll have a basic understanding of the principles of establishing products, pricing those products, and selecting customers to whom the products will be sold.

Upon successful completion of this course, you should be able to:

  • Describe the purpose of underwriting and an insurer’s major underwriting activities to achieve that purpose.
  • Explain how underwriters protect an insurer’s available capacity.
  • Explain which type of insurance rates would be more appropriate in a given situation:
    • Class rates
    • Individual rates
  • Describe the responsibilities of underwriting management.
  • Describe the steps in the underwriting process that an underwriter follows in selecting policyholders.
  • Describe information sources that underwriters use in the underwriting process.
  • Describe four categories of hazards that underwriters must evaluate in reviewing an application for insurance.
  • Describe an underwriter’s options when evaluating an application for insurance.
  • Explain how states regulate underwriting activities through restrictions on unfair discrimination, cancellation, and nonrenewal.

Cost: $20 per Professional Development Hour (PDH). Information on PDHs provided can be found here.

Underwriting Topics Include:

  • The purpose of underwriting and an insurer’s major underwriting activities to achieve that purpose
  • How underwriters protect an insurer’s available capacity
  • Class rates and individual rates
  • Responsibilities of underwriting management
  • Steps in the underwriting process that an underwriter follows in selecting policyholders
  • Information sources that underwriters use in the underwriting process
  • Four categories of hazards that underwriters must evaluate in reviewing an application for insurance
  • An underwriter’s options when evaluating an application for insurance
  • How states regulate underwriting activities through restrictions on unfair discrimination, cancellation, and nonrenewal

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Fax: (610) 640-9576
Mail: The Institutes
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Malvern, PA 19355-3433
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