Another view is that the underwriter impliedly undertakes to repay sums which the law may require the assured to pay towards averting losses which would, by the contract, fall upon the underwriter.
And yet in an ordinary policy of insurance there is no express provision requiring the underwriter to indemnify the assured against this liability.
The explanation seems to be that the practice of the underwriter to pay the contribution has been so uniform, and his liability has been so fully recognized, that express provisions were needless.
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bloodstock underwriter for the insurance syndicate Amlin 2001.
The underwriter will see all newly submitted bordereau 's.
A material fact is one that would have an effect on the mind of a prudent underwriter.
Under an Open Cover operated by Aon in 1999, the subscribers agreed to be bound by the risks accepted by the leading underwriter.
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It might well be implied that payments compulsorily required from the assured by law for contributions to G.A., or as salvage for services by salvors, will be undertaken or repaid by the underwriter, the service being for his benefit.
Since most mortgage companies - including Fifth Third Bank - utilize computer programs to approve or deny mortgage applications, a human underwriter is utilized as a safeguard.
An FHA underwriter reviews your mortgage application against specific FHA guidelines.
An FHA underwriter does not work for the FHA.
It is the FHA underwriter's responsibility to be an expert on the current FHA underwriting guidelines, procedures and policies.
Once they have experience with FHA loans, they can attend advanced training as a Direct Endorsement (DE) Underwriter.
Once a DE underwriter is employed, it is the employer's responsibility to register the DE underwriter in the FHA Underwriter Registry.
If you feel that the underwriter may not have had complete and accurate information, you can request a second review.
The litmus test for any insurance underwriter is to see if the information you provide matches your driving record or other insurance policy history.
An insurance underwriter will take all of this information into consideration before they determine the amount of your insurance premium.
Dan originally worked as a commercial account executive for two insurance agencies in Washington, as well as an underwriter for United Pacific Insurance.
The underwriter's job is to consider the likelihood that an applicant will make a claim against their policy.
AM Best Underwriter Rating: Check out the Insurance Underwriters AM Best rating.
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The word usage examples above have been gathered from various sources to reflect current and historial usage. They do not represent the opinions of YourDictionary.com.