answersLogoWhite

0

An associate underwriter is a person who is evaluating the risk that you are to the insurance company. From the time you put in an application for insurance, there is an approval process (often called the underwriting process) that is what an associate underwriter is in charge of. when the policy is issued, that means that the underwriting process was complete and you where approved for insurance. The underwriting process is very necessary and important to every insurance company. Risk is how insurance company's factor the cost they will charge you. If you are more or less of a risk than the risk class you were quoted, the company would likely adjust the premiums (payments) accordingly or possibly not issue the policy at all(if you are to much of a risk). For example lets say you are quoted a 50 dollar monthly premium for auto insurance. That cost is calculated from the risk class in which you were quoted, but lets say for example that you had D.U.I. that was not mentioned during the quoting process. A D.U.I. would probably put you in a more risky (costly) class than what you were quoted(someone with out a D.U.I.). It is the underwriters job to see that you are assigned to the correct insurable risk class so that the insurance company collects the correct premium for how much of a risk someone with your background and situation is. If the underwriter discovers you are to much of a risk for that company, they may not insure you at all. If you have life insurance and want to be sure of what you have and what all the facts are for your exact case, get a free analysis from a team of professionals, just so there is no surprises.

User Avatar

Wiki User

14y ago

Still curious? Ask our experts.

Chat with our AI personalities

ProfessorProfessor
I will give you the most educated answer.
Chat with Professor
ViviVivi
Your ride-or-die bestie who's seen you through every high and low.
Chat with Vivi
TaigaTaiga
Every great hero faces trials, and you—yes, YOU—are no exception!
Chat with Taiga

Add your answer:

Earn +20 pts
Q: What is an associate underwriter?
Write your answer...
Submit
Still have questions?
magnify glass
imp