Question: Explain underwriting risk and discuss two risks faced by insurance companies. Discuss the importance of establishing an effective risk management policy at insurance companies to

  • Explain underwriting risk and discuss two risks faced by insurance companies.

  • Discuss the importance of establishing an effective risk management policy at insurance companies to manage underwriting risks, giving one example of a risk management strategy used by insurance companies to mitigate such risks.

  • Discuss the role of the Insurance Core Principles as it relates to underwriting risks, in the effective management of insurance companies. Refer to the following link,https://www.iaisweb.org/uploads/2022/01/191114-IAIS-ICPs-and-ComFrame.pdf

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