Underwriter Job Description:

Reviews insurance applications to evaluate, classify, and rate individuals and groups for insurance and accepts or rejects applications, following establishment underwriting standards: Examines such documents as application form, inspection report, insurance maps, and medical reports to determine degree of risk from such factors as applicant financial standing, age, occupation, accident experience, and value and condition of property. Reviews company records to determine amount of insurance in force on single risk or group of closely related risks, and evaluates possibility of losses due to catastrophe or excessive insurance. Writes to field representatives, medical personnel, and other insurance or inspection companies to obtain further information, quote rates, or explain company underwriting policies. Declines excessive risks. Authorizes reinsurance of policy when risk is high. Decreases value of policy when risk is substandard to limit company obligation, and specifies applicable endorsements, or applies rating to ensure safe and profitable distribution of risks, using rate books, tables, code books, computer records, and other reference materials. Workers typically specialize by type of insurance coverage, such as life, health, property and liability, or multiline insurance; and by individual or group underwriting. Within different types of coverage, workers may further specialize in areas, such as pension, workers' compensation, property, marine, automobile, homeowner, or fire.