Across
- 1. The amount of business an insurer is able to write, usually based on a comparison of the insurer's written premiums to its policyholders' surplus.
- 5. A type of computer program that estimates losses from future potential catastrophic events.
- 6. A written manual that communicates an insurer’s underwriting policy and that specifies the attributes of an account that an insurer is willing to insure.
- 8. An insurer’s assets minus its liabilities, which represents its net worth.
- 9. The price per exposure unit for insurance coverage.
- 11. The use of technological devices to transmit data via wireless communication and GPS tracking.
- 12. A temporary written or oral agreement to provide insurance coverage until a formal written policy is issued.
- 13. A brief description of insurance coverage prepared by an insurer or its agent and commonly used by policyholders to provide evidence of insurance.
Down
- 2. Insuring individuals with a high probability of loss at a cost lower than the insurer would normally charge for that risk because it wasn’t aware of the actual risk involved.
- 3. A resource for classifying accounts and developing premiums for given types of insurance; includes necessary rules, factors, and guidelines to apply those rates.
- 4. A group of policies with a common characteristic, such as territory or type of coverage, or all policies written by a particular insurer or agency.
- 6. The process of selecting insureds, pricing coverage, determining insurance policy terms and conditions, and then monitoring the underwriting decisions made
- 7. The unit of measure (for example, area, gross receipts, payroll, or value insured) used to determine an insurance policy premium.
- 10. A process in which historical data based on behaviors and events is blended with multiple variables and used to construct models of anticipated future outcomes.