Brand Name Bags-Insurance Underwriting

1. Risk selection In this stage underwriter decides whether or not to accept the risk. It gathers information from proposal form, inspection report, valuation report and other supporting documents to get the details of the risk is to be covered. If the risk is suitable brand name bags is accepted. In case of extra hazardous risk or cases involving moral hazards the risk is rejected. 2. Classification and rating After the acceptance of the risk that the underwriter classifies and rates the risk. Risk is segregated into homogeneous groups to which rates can be assigned. Insurer has different rates for different kinds of risk. Insurers may their own classification and rating system Compliant with the guidelines of the regulator. Underwriters utilises the expertise and skills of actuaries, engineers and surveyors to find out the actual status of risk and bags wholesale severity. After thorough examination of all data underwriter decides the final rates, terms and conditions. 3. Policy forms Risk may be classified into various classes and several policy forms will be available to cover each class. After classification the underwriter must decide the applicable policy form and add suitable warranties, special conditions as may be required in case of the risk brand name bags sale. 4. Retention and reinsurance brand name bags wholesale All insurers have limited capacity to accept the risk. They cannot retain all the risk since if any catastrophe occurs the whole capital of the company may be wiped out. In order to have the risk evenly spread the underwriters resort to reinsurance wherein they transfer a portion of risk to reinsurer bags wholesale online.