Term
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Definition
| A set of parameters or limitions on the type of risks to be written |
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Term
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Definition
| A record of an individuals income, debt and payment history |
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Term
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Definition
| A clear and wilful act of obtaining money or value under false pretenses |
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Term
| A special investigation unit (SIU) |
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Definition
| A group with an insurance company typically staffed by former law enforcement professionals to investigate whether fraud has been committed. |
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Term
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Definition
| Prone to engage in lawsuits. |
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Term
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Definition
| The process of evaluating all of the policies written by an insurance company for an insured. |
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Term
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Definition
| The process of categorizing applications to allow underwriters to concentrate on those applications that require a decision. |
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Term
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Definition
| A method of assisting an underwriter in the decision-making process by identifiying hazards that are not part of an ideal (or model) risk. |
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Term
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Definition
| Computer software programs that supplement the underwriting decision-making process. |
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Term
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Definition
| The percentage of policies renewed at an anniversary. |
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