I’ve read every definition I can find and I’m none the wiser. In fact, I can actively feel my IQ decreasing.
I get it’s to do with risk but what does an Underwriter actually do on an average Tuesday?
Thank you!
In: Economics
I’m speaking in an insurance context; I’ve worked in both personal and specialty insurance.
An underwriter is the person who looks at your application for insurance and determines whether they want to offer coverage, under what terms, and for how much.
For instance, your home insurance might be more expensive than your neighbor’s, despite being next door and having a similar-sized home. That could be because your plumbing needs to be replaced, or you have a home-based business out of your basement, or you want specialized coverage for your stamp collection. An underwriter would look at each of those factors (among many others).
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