API 28

Determined by the rules adopted and filed for use in a state. An elgible risk falls wihtin the broad category of risk that can be written on a policy. A risk must be elgible before it can be acceptable.

Broadly defined by underwriting guidelines published by an insured for a type of policy.

A clear and willful act of obtaining money or value under false pretenses .

A record of an individual’s income, debt and payment history.

Computer software programs that supplement the underwriting decision-making process

Refers to an underwriter only those applications that require underwriting decisions

Determined by the rules adopted and filed for use in a state.

Means prone to engage in lawsuits

The percentage of policies renewed at anniversary

Performed by a computer program that assigns a number grade to an application based on information in the application

The process of evaluating all of the policies written by an insurance company for an insured

Is a group within an insurance company typically staffed by former law enforcement professionals

A practice underwriters once used of drawing a red line around an area on a map, where applicants would not be accepted.

Method of assisting an underwriter in the decision-making process by identifying hazards and degrees of hazards that are not part of an ideal risk.

The process of categorizing applications to allow underwriters to concentrate on those applications that require a decision.