Summary |
The term “Fire Underwriting” has come into use to describe the technical aspects of conducting the business of insurance of fire risks as opposed to the administrative, financial and organisational aspects of this business. Underwriting can be likened to the processes by which in any industrial enterprise the raw material is selected and manufactured into the finished product by the sale of which the enterprise gains its profit.
The underwriter in each of the four main branches of insurance bases his operations on a few general principles, all of cardinal importance.
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