Across
- 2. Underwriters responsible for evaluating individual applicants and policies subject to renewal.
- 3. Underwriters: Those responsible for evaluating individual applicants and policies subject to renewal.
- 4. is a contract of Insurance whereby one Insurer agrees, for a portion of the premium, to indemnify another Insurer for losses paid by the reinsured under Insurance policies issued by the reinsured to its policyholders.”
- 6. is a process by which an Insurance company comes out with a structure that enables it to fix a premium rate for the insured
- 8. method Relies heavily on experience and knowledge of an actuary or an underwriter with little or no use of statistics
- 9. is a demand by a person or business seeking to recover from an Insurance company, for a loss that covered by the Insurance company
- 10. restoration of an Insurance policy after it has lapsed for nonpayment of premiums
- 11. rate cancellation: entails a penalty in excess of pro rata for early termination
Down
- 1. is the process of selecting policy-holders by recognizing and evaluating hazards, establishing prices and determining policy terms and conditions
- 5. extension of the term of coverage of an expired policy, commonly by replacement with another policy effective on the date of expiration of the previous policy.
- 7. put price tags on risks. They are basically statisticians who calculate the costs of uncertain future events that range from tornadoes and hurricanes to changes in life expectancy.
- 12. the Government and its functionaries can be the official regulators for Insurance business. They are also known as state regulators.