Insurance Underwriters Job Description

Insurance Underwriters - Job Description
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Insurance Underwriters Tasks Performed
  • Authorize reinsurance of policy when risk is high.

  • Decline excessive risks.

  • Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe profitable distribution of risks, using reference materials.

  • Evaluate possibility of losses due to catastrophe or excessive insurance.

  • Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.

  • Review company records to determine amount of insurance in force on single risk or group of closely related risks.

  • Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.

Insurance Underwriters Work Activities
  • analyze financial data
  • evaluate degree of financial risk
  • follow contract, property, or insurance laws
  • gather relevant financial data
  • identify financial risks to company
  • inspect property
  • make decisions
  • review data on insurance applications or policies
  • use computers to enter, access and retrieve financial data
  • write business correspondence

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