Facts

• The term underwriter is used to describe an individual who is responsible for determining the risks involved in issuing an insurance policy. Insurance companies employ insurance agents and other staff to handle all matters related to selling and managing insurance policies.
  
  

Underwriters

• Insurance companies depend on underwriters to carefully review insurance applications, reports and all related data in order to determine insurability, risk factor issues and insurance premiums.
  
  

Insurance Companies

• Insurance companies hire sales agents and support staff to answer questions about policies, provide quotes and process insurance paperwork and claims. They may also sell financial products.
  
  

Types

• There are two types of insurance companies: life insurance companies that sell annuities, pensions and life insurance policies and non-life insurance companies that sell general types of property or health policies. Underwriters may specialize in health, life or property and liability policies.
  
  

Considerations

• Underwriters must follow insurance regulations and the underwriting standards set up by their employer. Insurance companies are ultimately responsible for making sure that their employees follow state insurance regulations.