Underwriting of insurance

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PostPosted: Sat Feb 16, 2008 10:58 am   Post subject: Underwriting of insurance  

I need a format on how an insuurance policy is and also a format on what an underwritten policy is.

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PostPosted: Sun Feb 17, 2008 11:14 am   Post subject:   

Good morning Easygirl..( Laughing )....I'm not understanding exactly what you want...by 'format' on 'how' an ins policy is? There is no underwriting 'policy' like an ins policy, there is a company 'policy' or protocol re: underwriting rules etc....please explain in more detail what you are after and we will do all we can to assist you.


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PostPosted: Mon Feb 18, 2008 5:16 am   Post subject:   

Easygirl, Please do what Lori had told you.

We always emphasis on an elaborate description of the problem. Thats why, the site offers the text box Very Happy to allow you to detail out your query.

However, all insurance policies need to be underwritten before the insurer can actually offer the coverage to the policy holder. The underwriters are the professionals hired by the insurance companies to do the evaluation of the risks for them. For more targeted answer you may require to explain your query further.



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PostPosted: Mon Feb 18, 2008 5:26 am   Post subject:   

Depending upon the nature of the policy, the policy documents are formated. Hence, there may not be an universal format for the insurance policies. However, any policy should carry the following information:

  • The name of the insured

  • Type of the policy

  • The perils covered under the policy

  • Incidents not covered

  • Duration of the policy

  • Date of effectiveness

  • Exclusions or the special riders added to the policy

  • Terms and conditions

  • Premium rate

    .......and so on

Hope the inputs help.

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Darla Heins

PostPosted: Mon Feb 18, 2008 5:29 am   Post subject:   

The general format that you're talking about is composed of certain segments eg. the disclosures, the named-insured, the actual policy (that talks of the claims procedure & the benefits) & the exclusions or floaters.

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