If you are interested in pursuing a career in risk management, here are a few to consider. Find out about the tasks performed, skills needed, pay, and opportunity outlook in these fields in the Occupational Outlook Handbook (OOH) at www.bls.gov. Insurance underwriter-decides whether to provide insurance and determines coverage amounts and premiums.

Question

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Answer 1

Textbook Question

Chapter C, Problem 1CE

If you are interested in pursuing a career in risk management, here are a few to consider. Find out about the tasks performed,

skills needed, pay, and opportunity outlook in these fields in the Occupational Outlook Handbook (OOH) at www.bls.gov.

Insurance underwriter-decides whether to provide insurance and determines coverage amounts and premiums.

Expert Solution & Answer

Summary Introduction

To discuss: The task performed, skills needed, pay, and opportunity outlook of the insurance underwriter.

Introduction: The individual responsible to estimate the insurance coverage and amount of premium to be paid are the insurance underwriters.

Answer to Problem 1CE

The insurance underwriter is responsible to provide insurance cover to responsible clients, maintain contact with the representatives of different fields, govern as per the government rules as well as screen the applicants of the insurance policy. The approximate pay of an insurance underwriter as in 2017 was $69,760 annually. They have the opportunity to grow at an approximate rate of 5% from the year 2016 to 2026.

Explanation of Solution

As per the occupational outlook handbook the details about the insurance underwriter is given below:

Task performed: The insurance underwriter has to take care about the background of the client before giving insurance cover policy, maintain appropriate coverage as per the premium, govern with the governmental regulations and also decide to give insurance or not.
Skills needed: Both education and training of the underwriters is required. Several skills such as goods skills to listen to the problems of others, problem solving kills, leadership quality and even interpersonal skills to interact and decision making quality is required to become an insurance underwriter.
Pay: An insurance underwriter is given a sum of $69,760 annually.
Opportunity outlook in this career: The job as well as the opportunity outlook states that the insurance underwriters tend to face competition in the market and these trained employees have huge opportunities to grow at the average rate of 5% from the year 2016 to 2026.

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Answer 2

Textbook Question

Chapter C, Problem 1CE

If you are interested in pursuing a career in risk management, here are a few to consider. Find out about the tasks performed,

skills needed, pay, and opportunity outlook in these fields in the Occupational Outlook Handbook (OOH) at www.bls.gov.

Insurance underwriter-decides whether to provide insurance and determines coverage amounts and premiums.

Expert Solution & Answer

Summary Introduction

To discuss: The task performed, skills needed, pay, and opportunity outlook of the insurance underwriter.

Introduction: The individual responsible to estimate the insurance coverage and amount of premium to be paid are the insurance underwriters.

Answer to Problem 1CE

The insurance underwriter is responsible to provide insurance cover to responsible clients, maintain contact with the representatives of different fields, govern as per the government rules as well as screen the applicants of the insurance policy. The approximate pay of an insurance underwriter as in 2017 was $69,760 annually. They have the opportunity to grow at an approximate rate of 5% from the year 2016 to 2026.

Explanation of Solution

As per the occupational outlook handbook the details about the insurance underwriter is given below:

Task performed: The insurance underwriter has to take care about the background of the client before giving insurance cover policy, maintain appropriate coverage as per the premium, govern with the governmental regulations and also decide to give insurance or not.
Skills needed: Both education and training of the underwriters is required. Several skills such as goods skills to listen to the problems of others, problem solving kills, leadership quality and even interpersonal skills to interact and decision making quality is required to become an insurance underwriter.
Pay: An insurance underwriter is given a sum of $69,760 annually.
Opportunity outlook in this career: The job as well as the opportunity outlook states that the insurance underwriters tend to face competition in the market and these trained employees have huge opportunities to grow at the average rate of 5% from the year 2016 to 2026.

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Answer 3

Textbook Question

Chapter C, Problem 1CE

If you are interested in pursuing a career in risk management, here are a few to consider. Find out about the tasks performed,

skills needed, pay, and opportunity outlook in these fields in the Occupational Outlook Handbook (OOH) at www.bls.gov.

Insurance underwriter-decides whether to provide insurance and determines coverage amounts and premiums.

Expert Solution & Answer

Summary Introduction

To discuss: The task performed, skills needed, pay, and opportunity outlook of the insurance underwriter.

Introduction: The individual responsible to estimate the insurance coverage and amount of premium to be paid are the insurance underwriters.

Answer to Problem 1CE

The insurance underwriter is responsible to provide insurance cover to responsible clients, maintain contact with the representatives of different fields, govern as per the government rules as well as screen the applicants of the insurance policy. The approximate pay of an insurance underwriter as in 2017 was $69,760 annually. They have the opportunity to grow at an approximate rate of 5% from the year 2016 to 2026.

Explanation of Solution

As per the occupational outlook handbook the details about the insurance underwriter is given below:

Task performed: The insurance underwriter has to take care about the background of the client before giving insurance cover policy, maintain appropriate coverage as per the premium, govern with the governmental regulations and also decide to give insurance or not.
Skills needed: Both education and training of the underwriters is required. Several skills such as goods skills to listen to the problems of others, problem solving kills, leadership quality and even interpersonal skills to interact and decision making quality is required to become an insurance underwriter.
Pay: An insurance underwriter is given a sum of $69,760 annually.
Opportunity outlook in this career: The job as well as the opportunity outlook states that the insurance underwriters tend to face competition in the market and these trained employees have huge opportunities to grow at the average rate of 5% from the year 2016 to 2026.

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Answer 4

Textbook Question

Chapter C, Problem 1CE

If you are interested in pursuing a career in risk management, here are a few to consider. Find out about the tasks performed,

skills needed, pay, and opportunity outlook in these fields in the Occupational Outlook Handbook (OOH) at www.bls.gov.

Insurance underwriter-decides whether to provide insurance and determines coverage amounts and premiums.

Expert Solution & Answer

Summary Introduction

To discuss: The task performed, skills needed, pay, and opportunity outlook of the insurance underwriter.

Introduction: The individual responsible to estimate the insurance coverage and amount of premium to be paid are the insurance underwriters.

Answer to Problem 1CE

The insurance underwriter is responsible to provide insurance cover to responsible clients, maintain contact with the representatives of different fields, govern as per the government rules as well as screen the applicants of the insurance policy. The approximate pay of an insurance underwriter as in 2017 was $69,760 annually. They have the opportunity to grow at an approximate rate of 5% from the year 2016 to 2026.

Explanation of Solution

As per the occupational outlook handbook the details about the insurance underwriter is given below:

Task performed: The insurance underwriter has to take care about the background of the client before giving insurance cover policy, maintain appropriate coverage as per the premium, govern with the governmental regulations and also decide to give insurance or not.
Skills needed: Both education and training of the underwriters is required. Several skills such as goods skills to listen to the problems of others, problem solving kills, leadership quality and even interpersonal skills to interact and decision making quality is required to become an insurance underwriter.
Pay: An insurance underwriter is given a sum of $69,760 annually.
Opportunity outlook in this career: The job as well as the opportunity outlook states that the insurance underwriters tend to face competition in the market and these trained employees have huge opportunities to grow at the average rate of 5% from the year 2016 to 2026.

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Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

Summary Introduction

To discuss: The task performed, skills needed, pay, and opportunity outlook of the insurance underwriter.

Introduction: The individual responsible to estimate the insurance coverage and amount of premium to be paid are the insurance underwriters.

Answer to Problem 1CE

The insurance underwriter is responsible to provide insurance cover to responsible clients, maintain contact with the representatives of different fields, govern as per the government rules as well as screen the applicants of the insurance policy. The approximate pay of an insurance underwriter as in 2017 was $69,760 annually. They have the opportunity to grow at an approximate rate of 5% from the year 2016 to 2026.

Explanation of Solution

As per the occupational outlook handbook the details about the insurance underwriter is given below:

Task performed: The insurance underwriter has to take care about the background of the client before giving insurance cover policy, maintain appropriate coverage as per the premium, govern with the governmental regulations and also decide to give insurance or not.
Skills needed: Both education and training of the underwriters is required. Several skills such as goods skills to listen to the problems of others, problem solving kills, leadership quality and even interpersonal skills to interact and decision making quality is required to become an insurance underwriter.
Pay: An insurance underwriter is given a sum of $69,760 annually.
Opportunity outlook in this career: The job as well as the opportunity outlook states that the insurance underwriters tend to face competition in the market and these trained employees have huge opportunities to grow at the average rate of 5% from the year 2016 to 2026.

Answer 8

Expert Solution & Answer

Summary Introduction

To discuss: The task performed, skills needed, pay, and opportunity outlook of the insurance underwriter.

Introduction: The individual responsible to estimate the insurance coverage and amount of premium to be paid are the insurance underwriters.

Answer to Problem 1CE

The insurance underwriter is responsible to provide insurance cover to responsible clients, maintain contact with the representatives of different fields, govern as per the government rules as well as screen the applicants of the insurance policy. The approximate pay of an insurance underwriter as in 2017 was $69,760 annually. They have the opportunity to grow at an approximate rate of 5% from the year 2016 to 2026.

Explanation of Solution

As per the occupational outlook handbook the details about the insurance underwriter is given below:

Task performed: The insurance underwriter has to take care about the background of the client before giving insurance cover policy, maintain appropriate coverage as per the premium, govern with the governmental regulations and also decide to give insurance or not.
Skills needed: Both education and training of the underwriters is required. Several skills such as goods skills to listen to the problems of others, problem solving kills, leadership quality and even interpersonal skills to interact and decision making quality is required to become an insurance underwriter.
Pay: An insurance underwriter is given a sum of $69,760 annually.
Opportunity outlook in this career: The job as well as the opportunity outlook states that the insurance underwriters tend to face competition in the market and these trained employees have huge opportunities to grow at the average rate of 5% from the year 2016 to 2026.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Summary Introduction

To discuss: The task performed, skills needed, pay, and opportunity outlook of the insurance underwriter.

Introduction: The individual responsible to estimate the insurance coverage and amount of premium to be paid are the insurance underwriters.

Answer 12

Answer to Problem 1CE

The insurance underwriter is responsible to provide insurance cover to responsible clients, maintain contact with the representatives of different fields, govern as per the government rules as well as screen the applicants of the insurance policy. The approximate pay of an insurance underwriter as in 2017 was $69,760 annually. They have the opportunity to grow at an approximate rate of 5% from the year 2016 to 2026.

Answer 13

Explanation of Solution

As per the occupational outlook handbook the details about the insurance underwriter is given below:

Task performed: The insurance underwriter has to take care about the background of the client before giving insurance cover policy, maintain appropriate coverage as per the premium, govern with the governmental regulations and also decide to give insurance or not.
Skills needed: Both education and training of the underwriters is required. Several skills such as goods skills to listen to the problems of others, problem solving kills, leadership quality and even interpersonal skills to interact and decision making quality is required to become an insurance underwriter.
Pay: An insurance underwriter is given a sum of $69,760 annually.
Opportunity outlook in this career: The job as well as the opportunity outlook states that the insurance underwriters tend to face competition in the market and these trained employees have huge opportunities to grow at the average rate of 5% from the year 2016 to 2026.

Answer 14

Ch. C.1 - Prob. C.1AQ Ch. C.2 - Prob. C.2AQ Ch. C.2 - Why are companies more aware now of the need to...Ch. C.2 - Prob. 2TP Ch. C.2 - What are the four major options for handling risk?Ch. C.2 - Prob. 4TP Ch. C.3 - Prob. 5TP Ch. C.3 - What is the rule of indemnity?Ch. C.4 - Prob. C.4AQ Ch. C.4 - Prob. 7TP

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