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Main Objectives of Underwriting General Insurance Policy

Main Objectives of Underwriting General Insurance Policy

1. To reduce the possibility of adverse selection against the insurer.

2. Prudent underwriting reduces the chances of Physical, Moral, and Morale hazards.

Insurance
[Post Image Courtesy of Yodiyim at FreeDigitalPhotos.net]

3. Underwriting helps in determining the expected loss potential of the proposed insured and selecting a price in line with this expected loss.

Insurance Law And Practice - ICSI

About Author Mohamed Abu 'l-Gharaniq

when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries.

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