Underwriting manuals: strategic dilemmas (part 6)

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In our last article we looked at the use of calculators and worksheets and the publisher of Underwriter e- Alert noted: The article begs the question: How will attorneys for plaintiffs litigating against insurers treat inconsistent practices within the same insurance company relative to the use of an e-worksheet or calculators for self-retained business versus reinsured business? Also, despite the free market basis of competitive underwriting and pricing, some level of professional standards (consistency) ought to exist in the application of debits, credits and pricing via the use of e- worksheets and calculators. Otherwise, courts and regulators will view underwriting…

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