Insurance Underwriters

Individuals within the insurance industry who identify and calculate the risk of loss from policyholders, establish appropriate premium rates and write policies that cover these risks. An insurance company may lose business to competitors if the underwriter appraises risks too conservatively or it may have to pay excessive claims if the underwriting actions are too liberal. Underwriters analyze information in insurance applications to determine if a risk is acceptable and will not result in a loss. Applications are often supplemented with reports from loss-control consultants, medical reports, data vendors and actuarial studies. Underwriters then decide whether to issue the policy and the appropriate premium to charge. In making this determination, they serve as the main link between the insurance carrier and the insurance agent. On occasion, they accompany sales agents to make presentations to prospective clients.