YOU ASK:

What is the definition of Write?

WE ANSWER:

To "write" refers to the act of evaluating a risk, putting a premium for assuming that risk, and for ultimately issuing an insurance policy. In other words, it is an underwriting activity.

When an insurance policy receives an application, it investigates to check whether the risk is something that it wants to take on. If so, it then determines the rating of the risk (whether it is a standard or rated policy), as well as the amount of premiums charged. The professionals tasked by insurance companies to write policies are called underwriters. They determine whether the policy to be issued is profitable or not.

Was this insurance question and its answer useful?
Not a bit
  • Currently 0/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
 Very useful
Have an Insurance Question? Ask For Insurance
Insurance glossary by alphabet:
  1. A |
  2. B |
  3. C |
  4. D |
  5. E |
  6. F |
  7. G |
  8. H |
  9. I |
  10. J |
  11. K |
  12. L |
  13. M |
  14. N |
  15. O |
  16. P |
  17. R |
  18. S |
  19. T |
  20. U |
  21. V |
  22. W |
Link this answer Email to a friend Print Bookmark or Share