24h Assistance
JORI
Contact
Glossary
Market and regulation

Underwriting

Also: Underwriting

Process by which an insurer analyses a risk, decides whether to accept it and under what conditions and price.

In practice

It is decided with the information received, so the quality of the risk presentation weighs as much as the risk itself. A well-prepared plant visit changes a renewal more than a premium negotiation.

Where it is addressed

This term is covered in Gestión del programa.

Related terms

Market capacityVolume of risk that the group of insurers and reinsurers is willing to assume in a branch and at a given time.Claims ratioRelationship between claims paid and premiums collected over a period.Risk mapOrdered inventory of a company's exposures, assessed by probability and impact, from which decisions to prevent, retain, or transfer are derived.ActuaryProfessional who applies statistical and financial methods to the calculation of premiums, provisions and solvency of an insurer.Insurance agentMediator who distributes insurance on behalf of one or several insurers, with whom they maintain an agency contract.Objective analysisObligation of the broker to advise based on a sufficient number of market contracts and with professional, not commercial, criteria.
PreviousSum insuredNextAll-risk construction

Would you like to tell us about your case?

Let's talk