Whats the difference between a insurance underwriter and surety underwriter?
The surety underwriter uses financial statements and business plans, among other factors, to determine the amount of surety credit the surety will extend. Underwriters want to know how the business is being run. They are becoming as concerned with resumes of key employees and comprehensive business plans as they are with financial statements. A surety underwriter wants to be sure that the company whose bond they are guaranteeing can complete the project. P& C underwriters analyze information in insurance applications to determine whether a risk is acceptable and will not result in a loss. Insurance applications often are supplemented with reports from loss-control representatives and reports from data vendors. Underwriters then must decide whether to issue the policy and, if so, determine the appropriate premium to charge. In making this determination, underwriters consider a wide variety of factors about the applicant. A property underwriter is concerned with the causes of loss to whi
