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 INSURANCE UNDERWRITING PROCESS Material Facts A. Principles of utmost good faith (itikad baik) A contract is an agreement between two parties is legally binding. For a contract to be legally binding, certain elements must be present such as: an offer an acceptance of the offer consideration With contracts in general, there is no duty on the contracting parties to provide information that has not been requested. The legal principle involved is known by a Latin term, caveat emptor, which translate as le be the buyer beware.   It would certainly not be fair or just: there will be things known particularly by a person wanting insurance that are not known by a potential insurer and which, if they were known, may effect its decision to accept the risk or on what terms. It is because of this that the principle of caveat emptor does not apply in an insurance contract. In its place is a duty of the utmost good faith (known in Latin as uberrima fides) Essentially, this duty means that a perso

 CHAPTER 4  UNDERWRITING ACTIVITIES AND TECHNOLOGY After studying this chapter: Define field underwriting and identify producer activities that facilitate the underwriting process (mendefinisikan field underwriting dan mengidentifikasi kegiatan producer yang memfasilitasi underwriting process) Identify the purpose of a field underwriting manual and the types of information typically included in such manuals (mengidentifikasi maksud dari field underwriting manual dan jenis-jenis informasi yang disertakan dalam field underwriting manual) Define tele-underwriting and explain how tele-underwriting differs from field underwriting (mendefinsikan tele-underwriting dan menjelaskan bagaimana tele-underwriting berbeda dengan field underwriting) Explain the purpose of a table of underwriting requirements (menjelaskan maksud table underwriting requirement) Describe the role of an insurer's policy issue area (menjelaskan peran dari perusahaan asuransi area tertentu dalam penerbitan polis ) List

 CHAPTER 2  THE UNDERWRITING POSITION After studying this chapter, you should able to.. list the primary activities of an underwriter and a chief underwriter (menyebutkan aktivitas utama dari underwriter dan chief underwriter) describe the job competencies necessary to be a successful underwriter Identify the specific components of initial (awal) and ongoing (berkelanjutan) training of underwriter Identify an underwriter's decision options Describe how insurers establish authority levels for underwriters Distinguish between the case assignment (penugasan khusus) system and the work division (pembagian kerja) system for organizing  underwriting work Describe how underwriters interact with producers, vendors, reinsurance companies, and other functional areas of the insurance company The Job of an underwriter entails being part detective, part medical student, part financial analyst, part salesperson, and part diplomat.   (pekerjaan seorang underwriter mencakup pekerjaan seorang detek