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What are the challenges faced by prudent underwriters during sellecting and clasificating of insured's?
Wiki User
∙ 11y ago
prudent underwriter face the following challenges during sellection and clasificating of insured
1.lack of principle of utmost good faith by insured on material facts
2. time factor during underwriting due to fear of competetion factor/
3. Unawareness on both sides of insured and insurer due to ignorance in appropriate product/ unawareness in completion of proposal form
Awareness in sides of expertises
4. Insured fail to cope with insurance regulation/ condition and exception
5. Insatisfaction in insurance rates
6. corrupt manner in side of insurer and insured
PREPARED BY: CHRISTIAN YUSUPH
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Wiki User
∙ 11y ago
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