Underwriting department

Department in a life and health insurance company that selects the risk that the company will insure. Underwriting department tries to make sure that the actual mortality or morbidity rates of the company's insureds do not exceed the rates assumed when premium rates were calculated.

See Also: Underwriting Guide; Underwriting Expense Ratio; Underwriting Expenses Incurred; Underwriting requirements; Underwriting; Underwriter;

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