As an underwriter your task is rather difficult and requires not only mathematical analysis of risk situations, but also critical analysis of people involved in such situations to arrive at the most accurate and sound judgment of the outcomes of risky situations. Your assessment is key to the level of protection your company can offer, and even whether or not offering coverage against a specific peril is even feasible, based on the number of exposures and the likely frequency of any loss that may occur.

There are several factors one must consider when assessing risk. What is the role of the following factors as key criteria for judging risk, providing insurance coverage and costing that insurance premium?

Explain each:

1. Age

2. Gender

3. Health