Print Options

Card layout: ?

← Back to notecard set|Easy Notecards home page

Instructions for Side by Side Printing
  1. Print the notecards
  2. Fold each page in half along the solid vertical line
  3. Cut out the notecards by cutting along each horizontal dotted line
  4. Optional: Glue, tape or staple the ends of each notecard together
  1. Verify Front of pages is selected for Viewing and print the front of the notecards
  2. Select Back of pages for Viewing and print the back of the notecards
    NOTE: Since the back of the pages are printed in reverse order (last page is printed first), keep the pages in the same order as they were after Step 1. Also, be sure to feed the pages in the same direction as you did in Step 1.
  3. Cut out the notecards by cutting along each horizontal and vertical dotted line
To print: Ctrl+PPrint as a list

11 notecards = 3 pages (4 cards per page)

Viewing:

Insurance Risk & Underwriting

front 1

Underwriting

back 1

Insurer weights potential health risk in its pool of people compare to potential loss of providing coverage

- allowed to ask pre-existing health questions (decide to accept, deny & cost)

front 2

Risk

back 2

Likelihood that an insured event will occur, requiring the payment of a claim (from insurer)

"possibility of a loss"

front 3

Peril: Cause of a loss

ex: fire

back 3

Hazard: condition that increases the odds of a loss

ex: fireplace or fire pit

front 4

"Due to chance"

back 4

potential of accidental loss, the loss must be the result of an unintended action & must be unexpected time & impact

Insurers only pay out these claims

front 5

Definiteness and Measurability

back 5

show definite proof of loss: bills, if cost can't be calculated or identified it's not insurable.

front 6

Statistically Predictable

back 6

like a game. How often a loss occurs & severity.

more frequent & higher severity have higher premiums

front 7

Not catastrophic "cat"

back 7

Not insurable.(exclusion)

front 8

Pure risk -

involves situations where the only outcome is loss, where there is no opportunity for gain.

back 8

Speculative risk -

happens when there is an uncertain potential for gains or losses. (hard to anticipate "exacts")

front 9

Risk Treatment

an action taken to manage risk (identify, assess, treat risk)

back 9

5 types of risk treatment:

  • Avoidance: This is a choice to not take on the risk
  • Reduction: Someone could mitigate certain actions, to reduce the risk
  • Transfer: Someone could transfer the risk to another party
  • Acceptance: Also known as risk retention, is the choice to face the risk
  • Sharing: This is distributing the risk to multiple parties

front 10

Underwriting - policy renewal

back 10

- underwriting only done once.

Contract provisions & state Insurance laws prohibit raise in premiums once policy is in force.

front 11

Domestic Violence Victim

back 11

Can't deny coverage to person, refuse to renew their coverage, cancel coverage or charge them a different amount than others in their group for same coverage.