Underwriting and rating two factors determine what you pay for auto insurance these factors analyze your characteristics and determine the risk that you present. Rating underwriting 3 sq categories of non group insurance o individually underwritten policies o federally guaranteed issue policies if you lose your. Medical underwriting a process used by insurance companies to try to figure out your health status when youre applying for health insurance coverage to determine whether to offer you coverage at what price and with what exclusions or limits. Insurance underwriting is the process of classification rating and selection of risks in simpler terms its a risk selection process this selection process consists of evaluating information and resources to determine how an individual will be classified whether a standard or substandard risk
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