Page 73 - M1_Insurance Introduction Notes
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pose reasonable risks are accepted and those
posing lower or higher than average risks are
accepted at lower or higher rates" of premium
than normal. Any applications posing unreasonable
risks are declined. The job of accepting or
declining the proposals of insurance received by a
company and deciding on the premium at which to
accept the proposals is done by the underwriting
department.
3. POLICY OWNER SERVICES
The employees in this area are the ones who issue
the actual policy documents. They also ensure
customer satisfaction by attending to various
requirements arising during the duration of a
contract like nominations, assignments,
alterations, etc. These employees are basically
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