- A series of regulations and procedures an underwriter must observe while in the process of underwriting. Products that can be underwritten can include equity capital, credit, mortgages, or insurance.
manual, written procedures, underwriting practices
Related Terms and Acronyms
- Policy — Definition,
- A set of rules or guidelines.
- An insurance contract.
- Premium — Definition,
- A payment made to an insurance company for insurance coverage.
- Underwriter — Definition,
- An entity that issues and distributes financial products including equity capital, credit, mortgages, and insurance.
- Underwriters Association — Definition,
- A group of underwriters in a specific field who join together to maintain professional standards.
- Underwriting (UW) — Acronym, Important,
- Assessing individuals for eligibility and issuing and distributing a financial product such as insurance, equity capital or credit.
- The analysis of risk involved in making a mortgage loan to determine whether the risk is acceptable to the lender. Underwriting involves evaluating the property as outlined in the appraisal report, and also evaluating the borrower's ability and willingness to repay the loan.
- Underwriting Expenses — Definition,
- The expenses accumulated by an insurance company while underwriting a product.
- Underwriting Income — Definition,
- The income earned by an insurer from underwriting in a certain amount of time.
- Underwriting Risk — Definition,
- The total amount of risk an entity takes on from underwriting something.