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Reviews insurance applications to evaluate, classify, and rate
individuals and groups for insurance and accepts or rejects
applications, follwoing establishment underwriting standards:
Examines such documents as application form, inspection report,
insurance maps, and medical reports to determine degree of risk
from such factors as applicant financial standing, age,
occupation, accident experience, and value and condition of
property. Reviews company records to determine amount of
insurance in force on single risk or group of closely related
risks, and evaluates possibility of losses due to catastrophe or
excessive inusrance.
Writes to field representatives, medical
personnel, and other insurance or inspection companies to obtain
further information, quote rates, or explain company
underwriting policies. Declines excessive risks. Authorizes
reinsuarnce of policy when risk is high. Decreases value of
policy when risk is substandard to limit company obligation, and
specifies applicable endorsements, or applies rating to ensure
safe and profitable distribution of risks, using rate books,
tables, code books, copmuter records, and other reference
materials. Workers typically specialize by type of insuarnce
coverage, such as life, health, property and liability, or
multiline insurance; and by individual or group underwriting.
Within different types of coverage, workers may further
specialize in areas, such as pension, workers' compensation,
property, marine, automobile, homeowner, or fire.
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