Regardless of whether the subject is a residence, a personal auto, or an individual’s liability exposures, good underwriting is particularly critical in personal lines. An underwriter cannot grant discounts or apply surcharges based on the nature of the risk the way a commercial underwriter can. The rates that apply are the rates that are determined by the actuarial department, the underwriter can accept or reject the business, and that’s it. Therefore, close attention to the risk and its exposures are key to writing good personal lines business.
This book covers personal lines exposure analysis and underwriting for both agents and underwriters. Green construction and alternative energy sources are explained. Among the checklists that are a featured part of the book are these:- Homeowners inventory- Homeowners application checklist- Lifespan of major home components- Automobile application checklist - Vehicle accessories- Racing restrictions
