III IC-45 Practice Questions - III IC-45 General Insurance Underwriting Exam

Which of the following is a primary objective of the underwriting process in general insurance?

To reject as many proposals as possible to minimize claims To automatically accept all risks submitted by an agent To ensure that the insurance company makes the maximum possible profit To classify risks and ensure that the premium charged is commensurate with the risk

Correct Answer:

To classify risks and ensure that the premium charged is commensurate with the risk

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