Underwriting

The chance of loss or the person, property, or entity insured under a policy.

The amount paid by the policyholder to the insurance company for coverage, typically on a monthly, quarterly, or annual basis.

A business professional who analyzes probabilities of risk and risk management, including calculation of premiums, dividends, and other applicable insurance industry standards.

Insurance purchased by insurance companies to transfer portions of their risk portfolios to other insurers, reducing the likelihood of large payouts from claims.

The ratio of losses paid plus loss reserves to premiums earned, used by insurers to measure underwriting profitability and pricing adequacy.

The sum of the loss ratio and expense ratio, measuring an insurer's overall underwriting profitability. A ratio below 100% indicates underwriting profit.

An insurance company created and owned by a business or group of businesses to insure their own risks, providing more control over coverage and potential cost savings.