Identify the process of classifying the potential insureds into the appropriate risk classification in order to charge the appropriate rate.

Name: Identify the process of classifying the potential insureds into the appropriate risk classification in order to charge the appropriate rate.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Underwriting is the process where insurers assess the risk associated with an applicant, determine the appropriate rate to charge for coverage, and decide whether to accept the risk and insure the individual or entity.

Identify the Process of Classifying the Potential Insureds into the Appropriate