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The dictionary of terms of insurance
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A person mandated by the insurer (reinsurer) or by the Lloyds syndicate who accepts a risk for insurance/reinsurance. The underwriter is responsible for building up the insurance/reinsurance portfolio for the insurer or reinsurer. The underwriter has to have the knowledge and experience to determine the degree of the risk, premium rates and insurance terms and conditions.

Underwriting Practice

A policy pursued by an insurance company in accepting certain risks for insurance (risk waving, limited acceptance of a risk or acceptance subject to restrictions).